The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: 1099 INT need advise Date:  2/8/2007  9:31 AM
Author:  TMFPMarti Number:  91894 of 132797

This is true, but shouldn't they have received a 1099 for the interest on the CD, seeing it was over $10?

IIRC the interest earned was less than $10, but from the taxpayer's perspective it's irrelevant. In all cases except where withholding is involved, the taxpayer doesn't need any 1099 to prepare and file his return. In all cases the taxpayer should have information needed to "create" a 1099. Otherwise how does she know the 1099 is right?

Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us