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You should receive a Form 1099-INT Interest Income from banks and financial institutions if you earned more than $10 in interest for the year. Even if you did not receive a Form 1099-INT, or if you received $10 or less in interest for the tax year, you are still required to report any interest earned and credited to your account during the year.

To enter the interest earned:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Investment Income to expand, then click Interest income (Form 1099-INT).
  3. Click + Add Form 1099-INT to create a new copy of the form or click Edit to review a form already created.
  4. Click Quick Entry to scroll down to answer or review all applicable questions or click Step-by-Step Guidance to proceed with the interview questions.

The payer's identification number and address are not needed.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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