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New Member
posted Feb 16, 2025 5:35:46 PM

I have a 1099-INT from a Schwab brokerage account. The box 1 interest amount is from multiple bank CDs. Does the 1099 box 1 need to be broken out to list each bank CD?

Just curious if only the actual box 1 amount from the schwab brokerage 1099-INT is required, or if each of the 20 sources of bank interest need to be identified separately.

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3 Replies
Level 15
Feb 16, 2025 5:36:46 PM

You can just enter the total.  Is there a total on the form?  

New Member
Feb 16, 2025 5:41:01 PM

Yes there is a total for the 1099 box 1 amount consisting of all the individual CDs purchased throughout the tax year. Just the one 1099 from Schwab. Interest is from 20 different banks, but paid through the one Schwab account and 1099. Making sure the IRS doesn’t need to know the source of each. 

Level 15
Feb 16, 2025 7:22:56 PM

Because it is a brokerage account, you can just say "Schwab brokerage" on one line with the total of all interest paid to that account.

 

@jweeks24