Instructions for Recipient
The information provided may be different for covered and noncovered
securities. For a description of covered securities, see the Instructions for
Form 8949. For a taxable covered security acquired at a premium, unless you
notified the payer in writing in accordance with Regulations section
1.6045-1(n)(5) that you did not want to amortize the premium under section 171,
or for a tax-exempt covered security acquired at a premium, your payer
generally must report either (1) a net amount of interest that reflects the offset of
the amount of interest paid to you by the amount of premium amortization
allocable to the payment(s), or (2) a gross amount for both the interest paid to
you and the premium amortization allocable to the payment(s). If you did notify
your payer that you did not want to amortize the premium on a taxable covered
security, then your payer will only report the gross amount of interest paid to
you. For a noncovered security acquired at a premium, your payer is only
required to report the gross amount of interest paid to you.
Recipient’s taxpayer identification number (TIN). For your protection, this
form may show only the last four digits of your TIN (social security number
(SSN), individual taxpayer identification number (ITIN), adoption taxpayer
identification number (ATIN), or employer identification number (EIN)). However,
the issuer has reported your complete TIN to the IRS.
FATCA filing requirement. If the FATCA filing requirement box is checked, the
payer is reporting on this Form 1099 to satisfy its chapter 4 account reporting
requirement. You also may have a filing requirement. See the Instructions for
Form 8938.
Account number. May show an account or other unique number the payer
assigned to distinguish your account.
Box 1. Shows taxable interest paid to you during the calendar year by the payer.
This does not include interest shown in box 3. May also show the total amount
of the credits from clean renewable energy bonds, new clean renewable energy
bonds, qualified energy conservation bonds, qualified zone academy bonds,
qualified school construction bonds, and build America bonds that must be
included in your interest income. These amounts were treated as paid to you
during 2020 on the credit allowance dates (March 15, June 15, September 15,
and December 15). For more information, see Form 8912. See the instructions
above for a taxable covered security acquired at a premium.
Box 2. Shows interest or principal forfeited because of early withdrawal of time
savings. You may deduct this amount to figure your adjusted gross income on
your income tax return. See the Instructions for Forms 1040 and 1040-SR to see
where to take the deduction.
Box 3. Shows interest on U.S. Savings Bonds, Treasury bills, Treasury bonds,
and Treasury notes. This may or may not all be taxable. See Pub. 550. This
interest is exempt from state and local income taxes. This interest is not
included in box 1. See the instructions above for a taxable covered security
acquired at a premium.
Box 4. Shows backup withholding. Generally, a payer must backup withhold if
you did not furnish your TIN or you did not furnish the correct TIN to the payer.
See Form W-9. Include this amount on your income tax return as tax withheld.
Box 5. Any amount shown is your share of investment expenses of a single-
class REMIC. This amount is included in box 1. Note: This amount is not
deductible.
Box 6. Shows foreign tax paid. You may be able to claim this tax as a deduction
or a credit on your Form 1040 or 1040-SR. See your tax return instructions.
Box 7. Shows the country or U.S. possession to which the foreign tax was paid.
Box 8. Shows tax-exempt interest paid to you during the calendar year by the
payer. See how to report this amount in the Instructions for Forms 1040 and
1040-SR. This amount may be subject to backup withholding. See Box 4 above.
See the instructions above for a tax-exempt covered security acquired at a
premium.
Box 9. Shows tax-exempt interest subject to the alternative minimum tax. This
amount is included in box 8. See the Instructions for Form 6251. See the
instructions above for a tax-exempt covered security acquired at a premium.
Box 10. For a taxable or tax-exempt covered security, if you made an election
under section 1278(b) to include market discount in income as it accrues and
you notified your payer of the election in writing in accordance with Regulations
section 1.6045-1(n)(5), shows the market discount that accrued on the debt
instrument during the year while held by you, unless it was reported on Form
1099-OID. For a taxable or tax-exempt covered security acquired on or after
January 1, 2015, accrued market discount will be calculated on a constant yield
basis unless you notified your payer in writing in accordance with Regulations
section 1.6045-1(n)(5) that you did not want to make a constant yield election for
market discount under section 1276(b). Report the accrued market discount on
your income tax return as directed in the Instructions for Forms 1040 and
1040-SR. Market discount on a tax-exempt security is includible in taxable
income as interest income.
(Continued on the back of Copy 2.)
