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#3
02-21-2005, 09:01 AM
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 Re: 1099-INT Record MTW wrote: - quote - > Don Priebe wrote:
whom you paid amounts reportable in boxes 1 and 3 of at> > I claim the record for this year. Client presented me with > > a 1099-INT for ONE CENT. > Meanwhile, I find that more and more payers are not issuing > 1099s for amounts under $10 bucks. This often results in > much time being wasted to find these minor amounts. Now, if > Congress wanted to EXEMPT such small amounts from taxation, > that would be something else. <grin "File Form 1099-INT, Interest Income, for each person To least $10 (or at least $600 of interest paid in the course of your trade or business described in the instructions for Box 1. Interest Income on page INT-2), " I didn't think an institution is required to send 1099-INTs unless at least $10 is paid. I've had an account with Bank of New York for years that never has sent me a 1099-INT...I earn less than $5. interest on it. And yes, I do report it. -- Regards - - Andrew << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
02-21-2005, 06:47 AM
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| Re: 1099-INT Record MTW wrote: - quote - > Don Priebe wrote:
clients dont' think amounts under 10$ are reportable, much> > I claim the record for this year. Client presented me with > > a 1099-INT for ONE CENT. > Meanwhile, I find that more and more payers are not issuing > 1099s for amounts under $10 bucks. This often results in > much time being wasted to find these minor amounts. Now, if > Congress wanted to EXEMPT such small amounts from taxation, > that would be something else. <grin And I, for one, really wish they would. AFter all, our less taxable. ChEAr$, Harlan Lunsford, EA n LA Fri 18 Feb 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-18-2005, 11:33 AM
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| Re: 1099-INT Record Don Priebe wrote: - quote - > I claim the record for this year. Client presented me with
Meanwhile, I find that more and more payers are not issuing> a 1099-INT for ONE CENT. 1099s for amounts under $10 bucks. This often results in much time being wasted to find these minor amounts. Now, if Congress wanted to EXEMPT such small amounts from taxation, that would be something else. <grin MTW << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-18-2005, 10:17 AM
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| Re: 1099-INT Record Don Priebe wrote: - quote - > I claim the record for this year. Client presented me with
Funny week!> a 1099-INT for ONE CENT. I won't mention the name of the > bank, but it rhymes with "HSBD" I had a W-2 with 0.05 federal tax withheld; 1099Div with 0.73 dividends and 0.19 federal tax withheld. Ernie in FL << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-16-2005, 10:57 PM
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| 1099-INT Record I claim the record for this year. Client presented me with a 1099-INT for ONE CENT. I won't mention the name of the bank, but it rhymes with "HSBD" -- Don EA in Upstate NY << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 1099int, record |
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