Tax Form 1099-INT Explained || Tax-Exempt vs. Taxable Interest
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The Form 1099-INT is used
The Form 1099-INT is used to report all types of interest: on bank deposits, tax-exempt interest, and others. The form is issued to taxpayers who receive at least $10 in interest.
Timecodes:
00:00 - Intro
02:59 - Interest income
03:20 - Early withdrawal penalty
03:36 - Interest on US Savings Bonds & Treasury
04:17 - Investment expenses in Box 5
04:39 - Foreign tax paid
05:50 - Tax-exempt interest
The 15 Most Common Tax Forms in 2022 (+Infographics) article: Medium: 15-most-common-tax-forms-in-2022
Boost Your Tax IQ Book: shorturl.at/ijBU2
Form 1099-INT box-by-box instructions: https://boostyourtaxiq.com/resources
IRS instructions for 1099-INT are at https://www.irs.gov/pub/irs-pdf/i1099...
——————————DISCLOSURE———————————
The information presented in this video is for informational and educational purposes only. It is not intended to render tax advice for any specific situation. Those needing assistance with a specific situation should consult with a qualified Tax Professional.
The information in this video is based on current tax law and IRS regulations as of date of publication and is subject to change.
#taxguide101 #akistepinska
Timecodes:
00:00 - Intro
02:59 - Interest income
03:20 - Early withdrawal penalty
03:36 - Interest on US Savings Bonds & Treasury
04:17 - Investment expenses in Box 5
04:39 - Foreign tax paid
05:50 - Tax-exempt interest
The 15 Most Common Tax Forms in 2022 (+Infographics) article: Medium: 15-most-common-tax-forms-in-2022
Boost Your Tax IQ Book: shorturl.at/ijBU2
Form 1099-INT box-by-box instructions: https://boostyourtaxiq.com/resources
IRS instructions for 1099-INT are at https://www.irs.gov/pub/irs-pdf/i1099...
——————————DISCLOSURE———————————
The information presented in this video is for informational and educational purposes only. It is not intended to render tax advice for any specific situation. Those needing assistance with a specific situation should consult with a qualified Tax Professional.
The information in this video is based on current tax law and IRS regulations as of date of publication and is subject to change.
#taxguide101 #akistepinska
2 سال پیش
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