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IF I received a 1099-INT form after i finished my tax return what do i do ? Do I just hold it for next year? Will this 1099-INT get me more money back in my refund?

 
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MayaD
Employee Tax Expert

IF I received a 1099-INT form after i finished my tax return what do i do ? Do I just hold it for next year? Will this 1099-INT get me more money back in my refund?

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. The form will not increase your refund, it will actually increase your taxable income and should be reported as income in the same year the Interest was earned. 

If you already submitted your return you need to amend your return to add the form.

Until your return moves into accepted status you can not amend. (If your return gets rejected, make the necessary changes before re-sending or filing then you won't have to amend.)

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MayaD
Employee Tax Expert

IF I received a 1099-INT form after i finished my tax return what do i do ? Do I just hold it for next year? Will this 1099-INT get me more money back in my refund?

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. The form will not increase your refund, it will actually increase your taxable income and should be reported as income in the same year the Interest was earned. 

If you already submitted your return you need to amend your return to add the form.

Until your return moves into accepted status you can not amend. (If your return gets rejected, make the necessary changes before re-sending or filing then you won't have to amend.)

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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