What Form 1099-INT does
Form 1099-INT reports interest income you earned during the year, usually from a savings account, CD, bond, or similar interest-bearing account. Your bank or financial institution issues this automatically; you don’t need to request it.

Who receives one
Anyone who earned $10 or more in interest from a single financial institution during the year will typically receive a 1099-INT from that institution.

What to do with it
Interest income reported on your 1099-INT gets included on your Form 1040 as taxable income, even if you didn’t withdraw it — interest earned in a regular savings or brokerage account is generally taxable in the year it’s credited, whether or not you touched it.

Multiple accounts, multiple forms
If you have accounts at several banks or brokerages, expect a separate 1099-INT from each one that paid you $10 or more; all of them need to be included and totaled on your return.

How Luminary can help
If you have income from multiple accounts or institutions, we make sure everything is accounted for correctly on your personal return, and help you understand how interest income affects your overall tax picture; especially if you’re also managing business income alongside it. Find out more on our individuals or services pages.