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ddd1956
New Member

Should the 1099-int interest income (copy b) show the income received from cashing in savings bonds in box 1 and the interest earned in box 3?

example is a $50 bond earns interest over time and when cashed in you receive $63 for the bond.  the interest earned is $13.  The $50 goes in box 1 and the interest should go in box 3 right?
1 Best answer

Accepted Solutions
CherylW
Level 3

Should the 1099-int interest income (copy b) show the income received from cashing in savings bonds in box 1 and the interest earned in box 3?

Box 1 of your 1099-INT is for regular interest.

Box 3 is for savings bond interest.

In your example, box 1 should be zero, and box 3 $13.

View solution in original post

1 Reply
CherylW
Level 3

Should the 1099-int interest income (copy b) show the income received from cashing in savings bonds in box 1 and the interest earned in box 3?

Box 1 of your 1099-INT is for regular interest.

Box 3 is for savings bond interest.

In your example, box 1 should be zero, and box 3 $13.

View solution in original post

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