If you received interest or dividend income during the year, you'll need to report it on your tax return, whether or not you received a tax form. Most taxpayers receive a Form 1099-INT for interest income or a Form 1099-DIV for dividend income from banks, brokerage firms, credit unions, mutual funds, and other financial institutions.
Our software allows you to enter all of your interest and dividend information in one convenient location.
What Can I Report in the 1099-INT, DIV, OID Section?
Within the 1099-INT, DIV, OID section, you can enter:
- Form 1099-INT Interest Income (taxable and tax-exempt interest)
- Form 1099-OID Original Issue Discount (OID) income
- Form 1099-DIV Dividend Income
- Seller-Financed Interest Income
Even if you did not receive a tax form, any taxable interest or dividend income must still be reported on your return.
What Is Form 1099-INT?
Form 1099-INT reports interest income you earned during the year. Common sources include:
- Savings accounts
- Checking accounts that pay interest
- Certificates of deposit (CDs)
- Bonds
- Money market accounts
Some interest is taxable for federal purposes, while certain types, such as some municipal bond interest, may be tax-exempt.
What Is Form 1099-DIV?
Form 1099-DIV reports dividends and certain distributions paid by corporations, mutual funds, exchange-traded funds (ETFs), and other investments.
The form may include:
- Ordinary dividends
- Qualified dividends
- Capital gain distributions
- Nondividend distributions
Different types of dividends may receive different tax treatment, so it's important to enter the form exactly as it appears.
What Is Form 1099-OID?
Form 1099-OID reports Original Issue Discount (OID) income. OID is a type of interest that accrues on certain bonds and debt instruments issued for less than their face value.
Even if you did not receive cash payments during the year, you may still be required to report OID income reported on Form 1099-OID.
What Is Seller-Financed Interest Income?
Seller-financed interest income occurs when you sell property or another asset and allow the buyer to make payments over time rather than paying the full amount upfront.
In this arrangement:
- You are the seller.
- The buyer pays you interest as part of the installment payments.
- The interest portion of those payments must generally be reported as income.
For example, if you sold land, a vehicle, or another asset and financed the purchase yourself, any interest the buyer paid you would typically be reported as seller-financed interest income.
Where Do I Enter Interest and Dividend Income?
To enter Form 1099-INT, Form 1099-DIV, Form 1099-OID, or seller-financed interest income:
- Go to Federal
- Select Income (Select My Forms)
- Choose 1099-INT, DIV, OID
- Select the type of income you need to enter
- Enter the information exactly as it appears on your form
Before You File
Be sure to gather all of your interest and dividend statements before filing. Financial institutions may issue multiple Forms 1099 if you have accounts at different banks, brokerages, or investment companies. Entering all of your Forms 1099-INT, 1099-DIV, and 1099-OID accurately helps ensure your return matches the information reported to the IRS and can help you avoid processing delays or notices later.