Fillable Form 1099-Int - Interest Income - 2014 (Page 5 of 9) in pdf

Instructions for Recipient

The information provided may be different for covered and noncovered

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

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

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

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

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

the payer in writing in accordance with Regulations section 1.6045-1(n)(5) that

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

you did not want to amortize the premium under section 171, your payer may

a premium.

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

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

interest paid to you by the amount of premium amortization for the year or (2) a

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

gross amount for both the interest paid to you and the premium amortization

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

for the year. If you did notify your payer that you did not want to amortize the

income tax return as tax withheld.

premium on a covered security, then your payer will only report the gross

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

amount of interest paid to you. For a noncovered security acquired at a

premium, your payer is only required to report the gross amount of interest paid

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

to you.

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

amount is included in box 1.

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

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

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

identification number (ITIN), or adoption taxpayer identification number (ATIN).

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

However, the issuer has reported your complete identification number to the IRS

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

and, where applicable, to state and/or local governments.

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

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

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

assigned to distinguish your account.

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

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

for a covered security acquired at a premium.

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

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

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

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

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

instructions above for a covered security acquired at a premium.

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

Box 10. For a covered security, if you made an election under section 1278(b) to

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

include market discount in income as it accrues and you notified your payer of

during 2014 on the credit allowance dates (March 15, June 15, September 15,

the election, shows the market discount that accrued on the debt instrument

and December 15). For more information, see Form 8912, Credit to Holders of

during the year while held by you. Report this amount on your income tax return

Tax Credit Bonds. See the instructions above for a covered security acquired at

as directed in the instructions for Form 1040 or 1040A.

a premium.

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

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

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 - 2014 Page 5

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