You'll need to sign in or create an account to connect with an expert.
No, a 1099-INT and a 1099 Composite form (also called a Consolidated 1099) are not the same thing, but the latter may contain some of the same information as the former.
A 1099-INT reports interest income.
A 1099-Composite is a "bundle" of forms from your brokerage firm that contains several different 1099 forms all in one document (so you don't receive multiple envelopes in the mail). Your Composite statement will have separate sections for: 1099-INT, 1099-DIV (for dividends and distributions), 1099-B (proceeds from selling stocks or bonds), etc.
Enter Info from your Financial Institute:
or;...
You can enter each section separately yourself by manually typing your information into the program. For example, you'll go to the 1099-INT section and enter the interest info, then go to the 1099-DIV section for dividends, etc.
The Consolidated 1099 will have sections for 1099-Int and 1099-Div and 1099B and maybe some other 1099s. You need to enter each section in the right place. So read it carefully and look for headings.... 1099-INT for interest or 1099-DIV for Dividends or 1099B for sales. I highlight each heading with a yellow highlighter to find them.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jean-yfeng
New Member
yatoshura
Level 2
user17761474545
New Member
mstrings
Level 1
Melody55
New Member