Form 1099-Int - Interest Income - 2017 (Page 5 of 9) in pdf

Instructions for Recipient

Box 3. Shows interest on U.S. Savings Bonds, Treasury bills, Treasury bonds,

The information provided may be different for covered and noncovered

and Treasury notes. This may or may not all be taxable. See Pub. 550. This

securities. For a description of covered securities, see the Instructions for

interest is exempt from state and local income taxes. This interest is not

Form 8949. For a taxable covered security acquired at a premium, unless you

included in box 1. See the instructions above for a taxable covered security

notified the payer in writing in accordance with Regulations section

acquired at a premium.

1.6045-1(n)(5) that you did not want to amortize the premium under section 171,

or for a tax-exempt covered security acquired at a premium, your payer may

Box 4. Shows backup withholding. Generally, a payer must backup withhold if

report either (1) a net amount of interest that reflects the offset of the amount of

you did not furnish your taxpayer identification number (TIN) or you did not

interest paid to you by the amount of premium amortization allocable to the

furnish the correct TIN to the payer. See Form W-9. Include this amount on your

payment(s), or (2) a gross amount for both the interest paid to you and the

income tax return as tax withheld.

premium amortization allocable to the payment(s). If you did notify your payer

Box 5. Any amount shown is your share of investment expenses of a single-

that you did not want to amortize the premium on a taxable covered security,

class REMIC. If you file Form 1040, you may deduct these expenses on the

then your payer will only report the gross amount of interest paid to you. For a

“Other expenses” line of Schedule A (Form 1040) subject to the 2% limit. This

noncovered security acquired at a premium, your payer is only required to report

amount is included in box 1.

the gross amount of interest paid to you.

Box 6. Shows foreign tax paid. You may be able to claim this tax as a deduction

Recipient's taxpayer identification number. For your protection, this form may

or a credit on your Form 1040. See your Form 1040 instructions.

show only the last four digits of your social security number (SSN), individual

Box 7. Shows the country or U.S. possession to which the foreign tax was paid.

taxpayer identification number (ITIN), adoption taxpayer identification number

(ATIN), or employer identification number (EIN). However, the issuer has

Box 8. Shows tax-exempt interest paid to you during the calendar year by the

reported your complete identification number to the IRS.

payer. Report this amount on line 8b of Form 1040 or Form 1040A. This amount

may be subject to backup withholding. See box 4. See the instructions above

FATCA filing requirement. If the FATCA filing requirement box is checked, the

for a tax-exempt covered security acquired at a premium.

payer is reporting on this Form 1099 to satisfy its chapter 4 account reporting

Box 9. Shows tax-exempt interest subject to the alternative minimum tax. This

requirement. You also may have a filing requirement. See the Instructions for

amount is included in box 8. See the Instructions for Form 6251. See the

Form 8938.

instructions above for a tax-exempt covered security acquired at a premium.

Account number. May show an account or other unique number the payer

Box 10. For a taxable or tax-exempt covered security, if you made an election

assigned to distinguish your account.

under section 1278(b) to include market discount in income as it accrues and

Box 1. Shows taxable interest paid to you during the calendar year by the payer.

you notified your payer of the election in writing in accordance with Regulations

This does not include interest shown in box 3. May also show the total amount

section 1.6045-1(n)(5), shows the market discount that accrued on the debt

of the credits from clean renewable energy bonds, new clean renewable energy

instrument during the year while held by you, unless it was reported on Form

bonds, qualified energy conservation bonds, qualified zone academy bonds,

1099-OID. For a taxable or tax-exempt covered security acquired on or after

qualified school construction bonds, and build America bonds that must be

January 1, 2015, accrued market discount will be calculated on a constant yield

included in your interest income. These amounts were treated as paid to you

basis unless you notified your payer in writing in accordance with Regulations

during 2017 on the credit allowance dates (March 15, June 15, September 15,

section 1.6045-1(n)(5) that you did not want to make a constant yield election for

and December 15). For more information, see Form 8912. See the instructions

market discount under section 1276(b). Report the accrued market discount on

above for a taxable covered security acquired at a premium.

your income tax return as directed in the instructions for Form 1040 or 1040A.

Box 2. Shows interest or principal forfeited because of early withdrawal of time

Market discount on a tax-exempt security is includible in taxable income as

savings. You may deduct this amount to figure your adjusted gross income on

interest income.

your income tax return. See the Instructions for Form 1040 to see where to take

the deduction.

(Continued on the back of Copy 2.)

Form 1099-Int - Interest Income - 2017 Page 5

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