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1099 INT savings bond?
So i cashed in 2 savings bonds this year, 1 for $50 that had an interest of $21 and another for $100 that had an interest of $46. Will I be getting a 1099 in the mail? and if so will I have to report this minuscule amount of interest? Im 16 lol.
4 Answers
- StephenWeinsteinLv 71 decade agoFavorite Answer
Yes, to both questions.
And anything over $10 is not minuscule.
- JudyLv 71 decade ago
You'll get a 1099 from the bank where you cashed them, showing the interest. If that's your only income for the year, you don't have to file. If you do file for any reason, you need to show the interest.
- ?Lv 44 years ago
a chit expenses bond has no investment costs, you probably did no longer pay a value to somebody to purchase it or administrative costs to maintain it maximum folk do no longer declare the interest on the bonds as they carry them, they in many situations wait till the money them in whilst the economic enterprise calculates the interest on them which would be taxable
- Anonymous1 decade ago
Yes and Yes.
