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Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
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Hello, Iam filing tax returns for 06 and07. I have a form 1099-INT

Customer Question

Hello, Iam filing tax returns for 06 and07. I have a form 1099-INT with an amount of less than $80 on box 3 of the 06 form and no other amounts anywhere on the form. On the 07 form there is an amount of less than $165 on box 1 and less than $70 on box 3 and no other amounts on the form. Where do I put these on the returns? I did not work these years but need to file. Thanks, XXXXX XXXXX
Submitted: 8 years ago.
Category: Tax
Expert:  Bill replied 8 years ago.

Those amounts will be entered as interest on the applicable 1040 form you are filing (assuming you have not reported interest on the bonds in prior years which is seldom done). If you are filing Form 1040-EZ then enter the amounts on line 2. If you are filing Form 1040A or 1040 enter the amounts on line 8a. Box 3 is interest on savings bonds.

 

http://www.irs.gov/pub/irs-pdf/f1040ez.pdf

 

http://www.irs.gov/faqs/faq-kw162.html

 

 

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Customer: replied 8 years ago.
Are boxes 1 and 3 added together before being put on line 8a?
Expert:  Bill replied 8 years ago.
Yes, both boxes are added together.