In 2024, I owned two CDs jointly with my Adult daughter and both CDs were from the same bank. The bank has sent me only one 1099INT that looked more like a statement, but it said 1099INT 2024 (with only my name and Social Security Number). Since half of the 2024 interest income on both CD's belongs to each of us, I am trying to create a 1099INT for my daughter to send to the IRS and my daughter showing the Interest she earned for the two Bank CDs.
I only received one 1099INT for both CDs the Bank's 1099INT looks like a statement, but it says 1099INT and list both CD account numbers and the amount of Interest each CD Account earned as well as the total interest earned for both Accounts.
I have 2 account numbers for the one 1099INT. The bank Tax Department told me that they combined the two CD's interest earned into one 1099INT because the terms of the CDs were identical. The bank could not tell me what account number or numbers they sent to the IRS. I received the 1099INT and now I have to generate a 1099INT for the IRS and my daughter.
I found a website (https://www.efile4biz.com/) that can do this for me electronically for a small fee. Their 1099INT form requires an account number to be entered. The website 1099INT can only accept one account number. However, I have 2 account numbers for the one 1099INT.
The bank Tax Department told me that they combined the two CD's interest earned into one 1099INT because the terms of the CDs were identical. The bank could not tell me what account number or numbers they sent to the IRS.
The website (https://www.efile4biz.com/) only does certain states and my state isn't one of the states that it supports, I live in New Jersey.
I tried calling the IRS, but could not get through and was told to call another time.
I just found another website (https://www.1099online.com/) that I am going to see what it can do for me.
I could not understand the IRS booklets.
How important is the account number listed on the 1099INT? Does the IRS use the account number in any way?
