Skip to main content

Taxes on Interest Reporting

80 articles

Interest you earn from savings accounts, money market accounts, certificates of deposit, and bonds gets reported to the IRS and may be taxable. Banks and financial institutions send you a 1099-INT form each year showing how much interest you received. Understanding which interest counts as income, how much you owe in taxes, and where to report it on your tax return matters whether you're filing on your own or working with a tax professional.

The articles here cover how interest income gets reported, what the 1099-INT form tells you, when you have to report interest that wasn't reported on a form, and how interest affects your overall tax situation. You'll find information about different types of interest, thresholds for reporting, and how to handle interest from various sources when you file.