A Form 1099-INT is a U.S. tax form used to report interest income you earned during the tax year. Banks and other financial institutions issue this form if you earned interest on your accounts.
You generally need to report the information from your 1099-INT on your federal tax return, as interest income is considered taxable by the IRS. Even if you do not receive a 1099-INT, you are still responsible for reporting any interest income you earned.
Important:
Box 1 of your 1099-INT shows the total interest income you were paid during the year. You’ll need this amount when filing your tax return.
For more information, please visit the IRS website.