Is there a difference between IRS form 1099 vs 1099-INT?

I am told to attach form 1099 from Turbotax but I see all my interest income has statements as 1099-INT, I don't think it's the same but need some confirmation, does anyone know?

5 years ago - 6 answers

Best Answer

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Not the same, really -- 1099-MISC is what Turbo Tax is asking you to attach.

5 years ago

Other Answers

INT is interest
Misc is non employee compensation or rents or payments to lawyers
R is retirement

If you were self employed you would get a 1099M to use on your schedule C so put that in turbo tax.

You only need to attach 1099 if you had tax withheld.

by shiprepairwoman - 5 years ago

If you are attaching forms to your tax return to mail it in, you include W-2s (in all cases) and 1099 forms ONLY if they show withholding. You do this to get credit for the money withheld.

It's rare for a 1099-INT to have withholding on it. It's not impossible, just rare.

by v b - 5 years ago

Form 1099 by itself is generic as there are several different types of form 1099. Yours is 1099-INT. Turbo Tax is asking you to enter the interest earned as reflected on your 1099-INT.

To see the list of the various 1099 forms/classifications go to page 10 of the 1040 instruction booklet PDF file:

1099 forms are not usually sent in with your tax return unless taxes were withheld from the reported earnings.


by Badger Boise - 5 years ago

There is no form whose full name is "form 1099". There are several different forms with 1099 in their names, for example:
Form 1099–B, Proceeds From Broker and Barter Exchange Transactions
Form 1099–DIV, Dividends and Distributions
Form 1099–INT, Interest Income
Form 1099–MISC, Miscellaneous Income
Form 1099–OID, Original Issue Discount
Form 1099–R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
Form SSA–1099, Social Security Benefit Statement

Except for 1099-INT, none of these are for interest.

Generally, you should attach whichever any forms that have names that BEGIN WITH "Form 1099" AND show federal tax withheld, except that you do not have to attach a 1099-G that show federal tax withheld from unemployment compensation. Generally, you do not need to attach any form with a name that begins with "Form 1099" and does NOT show any tax withheld.


by stephenweinstein - 5 years ago

There are many different 1099 forms, for many different purposes. 1099-int is one, for interest paid. The one you're asked to send in is a 1099-misc if you have one.

by Judy - 5 years ago