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jntexas02
New Member

If I can calculate how much interest I earned in my savings account without receiving my 1099-INT, do I still need to wait to receive it before filing my taxes?

I’ve added the quarterly payments to get my total.
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2 Replies
Carl
Level 15

If I can calculate how much interest I earned in my savings account without receiving my 1099-INT, do I still need to wait to receive it before filing my taxes?

No. The 1099-INT is not required to report interest income. Typically, banks will not even issue the 1099-INT for interest amounts of less than $10. But even then, one is still required to report it. If you'll note in the 1099-INT section of the program, all it asks for is the name of the institution that paid you the interest, and the amount they paid you. There's no need for a payer's EIN or anything else for that matter. (Not sure, but I don't think it even asks for the address of the payer either.)

 

 

jntexas02
New Member

If I can calculate how much interest I earned in my savings account without receiving my 1099-INT, do I still need to wait to receive it before filing my taxes?

Thank you!  I figured that was the case but didn’t want to miss something. I appreciate the quick reply!

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