Question

You will receive Form 1099-INT if during the tax year you:

a. Earned dividends during the year for stocks in your investment account
b. Paid interest on a home mortgage
c. Earned more than $10 of interest from a savings account during the year
d. Paid interest on student loans

Answer 1

You will receive a Form 1099-INT for earning more than $10 of interest from a savings account during the tax year.

Step-by-step explanation:

You will receive Form 1099-INT if during the tax year you earned more than $10 of interest from a savings account during the year. Form 1099-INT is issued by banks and financial institutions to individuals who have earned at least $10 in interest income during the tax year. This can include interest from savings accounts, interest-bearing checking accounts, and other investments. Earning dividends or paying interest on a mortgage or student loans does not trigger the issuance of a 1099-INT. However, dividends earned from stocks in an investment account may be reported on a different form, Form 1099-DIV.