I received a Form 1099-INT from IRS

[ivysrain]

Is says it is a statement showing interest income paid from the IRS, how do I enter this?

[dhruvin45]

What is the 1099-INT IRS form for? I never received this amount.

[bridgetcc]

Yes I want to know why I received this as well

[Doc5108 · Accepted solution]

Yes, it is Enter in the same place other Interest 1099-INT forms are entered.

Enter your interest in Box 1
- You enter your 1099-INT Form Interest in the Wages & Income area.
- Click on the Federal Taxes (Personal, in Home & Business product)
- Click on Wages & Income  (Personal Income, in Home & Business product)
- Click on [I'll Explore on my own] OR (I’ll choose what I work on) if it's showing
- Go down the Screen to (Interest and Dividends)  Online you may have to Click on (Show more)
- Then Under the above is (Interest on 1099-INT) Click on Start, Update, or Edit

Then just Enter the Institution (Received From) Name
Enter your interest in Box 1

[dhruvin45]

What is the 1099-INT IRS form for? I never received this amount. Why did I get this form?

[VolvoGirl]

On reason, If you did an amended return and had a refund the IRS would pay you interest on it. It would be included  on the check from the IRS.  It would not be a separate check.  I amended 3 years of returns in 2017 and each refund had interest on it I had to enter on my tax return.

[VolvoGirl]

Enter interest from the IRS like a 1099Int and put the amount in box 1.  
Enter a 1099-Int  under
Federal Taxes tab
Wages & Income
Choose Jump to Full List -or  I'll choose what I work on
Interest and Dividends
Interest on 1099INT - Click the Start or Update button

Put the interest amount in box 1

[Mr Rick]

That may explain it as I entered amended returns on the advice of TurboTax for two different years last year and received additional money back. This may explain why I received this 1099-INT from the IRS.

[DaBoz]

I received this form yet I paid taxes in 2020 for 2019. Why would I get a 1099-R?

[PattiF]

Yes, the IRS is issuing 1099-INT for interest paid on refunds due to the longer than usual tax filing season in 2019 when the IRS postponed the tax deadline to July 15. See the first paragraph of this for more information. IRS interest from 2019 1099-INT  You said that you paid taxes in 2020 for the Tax Year 2019. If you received a refund for that tax year, this form would report the amount that would of interest that you would receive for the additional three months of tax season. If you had to pay for the 2019 Tax Year, this interest payment would be for an earlier year.

The IRS does not issue a 1099-R.

[kapilrakh]

But I don't see the amount in my bank, and never received a cheque. 

[ToddL99]

How much was reported on the 1099-INT?

[DaBoz]

$225, and I never received this amount, but it definitely came on a 1099-INT

[kapilrakh]

$41

[CatinaT1]

The amount of interest reported would have been included with your refund when you received it.  You would not have received this as a separate payment.

Taxpayers who received a federal tax refund in 2020 may have been paid interest. Refund interest payments are taxable and must be reported on federal income tax returns. In January 2021, the IRS will send Form 1099-INT to anyone who received interest totaling $10 or more.