Does a 1099-INT affect my tax bracket?

Yes, 1099-INT can affect your tax bracket. It is because the interest income stated on your form is added to your total taxable income. If the interest income pushes your income higher and moves you into a higher tax bracket. It potentially increases the tax percentage you owe.

US Tax Forms

IRS Form 1099-INT: What It Is & Who Needs to File It?

By Sanskriti Saxena |Last Updated: September 26, 2025

IRS Form 1099-INT: What It Is & Who Needs to File It?

The Form 1099-INT is a tax document that is issued to individuals by credit unions, banks, financial institutions, and any other entity from whom they received interest income. This form reports the interest income earned by taxpayers in the whole year.

Have you also gotten a Form 1099-INT form from your bank and are looking for further guidance on it? From knowing the meaning of this form to how to include this form in your income tax return, everything is covered in this blog. So read on and gather all the related information.

Sanskriti Saxena(Tax Expert)

Miss Sanskriti is a certified Tax Expert. She has her expertise in US GAAP, Taxation, SOX, IRS, Accounting, and Auditing standards. Miss Saxena is an intellectual blend of a high-end auditor, tax consultant, and accountant

Frequently Asked Questions

The IRS Form 1099-INT is a tax form given by interest-paying entities to the recipient who receives interest income of $10 or more. The interesting paying entities include investment firms, banks, and other financial institutions. The information stated on this form should be reported to the IRS.

All the taxable interest income, even if it is less than $10, should be reported. However, banks, investment firms, and other financial institutions are accountable for issuing Form 1099-INT only if the amount of interest is $10 or more during a tax year.

One can receive a Form 1099-INT for their savings bonds from the place where they cashed or redeemed them. For instance, a financial institution or bank where they cashed their savings bonds or Treasury Direct, if the bonds were managed online. Furthermore, during the process, it is vital for the individual to maintain their account details so that they can receive the form at the correct address.

You may not receive Form 1099-INT from your bank because your interest-earning amount was less than $10, or your email address stated in your bank details was incorrect. Additionally, it may also happen that the bank sends you the form digitally, so you should check your email or your online banking portal. Furthermore, if you did not get this form, it is vital for you to still mention your interest income in your tax return.

You generally receive this form when you receive interest income of $10 or more during a financial year. It is issued by your credit union, bank, or other payer so that you and the IRS have a record of the earned interest for accurate reporting of taxes.

IRS Form 1099-INT: What It Is & Who Needs to File It?

Frequently Asked Questions

What is Form 1099-INT?

How much do you have to claim on a 1099-INT?

How do I get a Form 1099-INT for savings bonds?

Why did I not get Form 1099-INT from my bank?

Why am I receiving a 1099-INT?

IRS Form 1099-INT: What It Is & Who Needs to File It?

Frequently Asked Questions

What is Form 1099-INT?

How much do you have to claim on a 1099-INT?

How do I get a Form 1099-INT for savings bonds?

Why did I not get Form 1099-INT from my bank?

Why am I receiving a 1099-INT?