You'll need to sign in or create an account to connect with an expert.
Yes, you will need to report Form 1099 INT on your tax return.
If you received a Form 1099-INT, then you need to report the interest - even if it came from a CD where the interest remains in the CD account and compounds.
All interest earned during the year is taxable for that year, whether or not you received a 1099-INT from the financial institution. A financial institution is only required to issue a 1099-INT if the amount of interest is equal to or greater than $10.00. The only exception to this is for US Savings Bonds. You can report the interest earned annually or at redemption.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
koonsup
New Member
chunhuach
Level 1
VAer
Level 4
cryslarc1
New Member
joycesyi
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.