The statement is from CHASE (upper left hand corner of 1099-INT form), but the name displayed under the federal ID number is "JPMORGAN CHASE BANK, N.A."
Does it even matter how I input the name, or is it only the amount that the IRS will match with what they receive from Chase?
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even if over the limits it may not matter.
I've filed my returns for more than 25 years and never have gotten an inquiry from the IRS because I entered Chase rather than JPMorgan Chase Bank NA or Schwab rather than Charles Schwab or MB Bank rather than MB Financial Bank.
When I was doing return professionally, I had clients with multiple accounts from the same source each with separate reporting forms.. so 12 reports from JPMorgan Chase each got enter as Chase. Clients never once said to me or forwarded to me an inquiry from the IRS.
during that time I also seen numerous returns use the broker's name say XYZ company when its actually the clearing firm Pershing that files the 1099's with the IRS - again never once an inquiry (Pershing not XYZ would be the name if you were to pull the IRS transcript)
even if over the limits it may not matter.
I've filed my returns for more than 25 years and never have gotten an inquiry from the IRS because I entered Chase rather than JPMorgan Chase Bank NA or Schwab rather than Charles Schwab or MB Bank rather than MB Financial Bank.
When I was doing return professionally, I had clients with multiple accounts from the same source each with separate reporting forms.. so 12 reports from JPMorgan Chase each got enter as Chase. Clients never once said to me or forwarded to me an inquiry from the IRS.
during that time I also seen numerous returns use the broker's name say XYZ company when its actually the clearing firm Pershing that files the 1099's with the IRS - again never once an inquiry (Pershing not XYZ would be the name if you were to pull the IRS transcript)
If Schedule B is not included in your tax return, it doesn't matter what you enter because the IRS will not see the name. The usual reason that Schedule B would be included is that either your total interest is over $1,500 or your total dividends are over $1,500. If your return does include Schedule B, enter the full name of the payer. That is what the IRS will be looking for.
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