Form 1099-Int - Interest Income - 2016 Page 7
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9Instructions for Recipient (Continued)
Box 14. Shows CUSIP number(s) for tax-exempt bond(s) on which
Box 11. For a taxable covered security (other than a U.S. Treasury
tax-exempt interest was paid, or tax credit bond(s) on which taxable
obligation), shows the amount of premium amortization allocable to
interest was paid or tax credit was allowed, to you during the calendar
the interest payment(s), unless you notified the payer in writing in
year. If blank, no CUSIP number was issued for the bond(s).
accordance with Regulations section 1.6045-1(n)(5) that you did not
want to amortize bond premium under section 171. If an amount is
Boxes 15—17. State tax withheld reporting boxes.
reported in this box, see the Instructions for Form 1040 (Schedule B).
Nominees. If this form includes amounts belonging to another
If an amount is not reported in this box for a taxable covered security
person(s), you are considered a nominee recipient. Complete a
acquired at a premium and the payer is reporting premium
Form 1099-INT for each of the other owners showing the income
amortization, the payer has reported a net amount of interest in box 1.
allocable to each. File Copy A of the form with the IRS. Furnish Copy
If the amount in this box is greater than the amount of interest paid on
B to each owner. List yourself as the “payer” and the other owner(s)
the covered security, see Regulations section 1.171-2(a)(4).
as the “recipient.” File Form(s) 1099-INT with Form 1096 with the
Box 12. For a U.S. Treasury obligation that is a covered security,
Internal Revenue Service Center for your area. On Form 1096 list
shows the amount of premium amortization allocable to the interest
yourself as the “filer.” A spouse is not required to file a nominee return
payment(s), unless you notified the payer in writing in accordance with
to show amounts owned by the other spouse.
Regulations section 1.6045-1(n)(5) that you did not want to amortize
Future developments. For the latest information about developments
bond premium under section 171. If an amount is reported in this box,
related to Form 1099-INT and its instructions, such as legislation
see the Instructions for Form 1040 (Schedule B). If an amount is not
enacted after they were published, go to
reported in this box for a U.S. Treasury obligation that is a covered
security acquired at a premium and the payer is reporting premium
amortization, the payer has reported a net amount of interest in box 3.
If the amount in this box is greater than the amount of interest paid on
the U.S. Treasury obligation, see Regulations section 1.171-2(a)(4).
Box 13. For a tax-exempt covered security, shows the amount of
premium amortization allocable to the interest payment(s). If an
amount is not reported in this box for a tax-exempt covered security
acquired at a premium, the payer has reported a net amount of
interest in box 8 or 9, whichever is applicable. If the amount in this
box is greater than the amount of interest paid on the tax-exempt
covered security, the excess is a nondeductible loss. See Regulations
section 1.171-2(a)(4)(ii).
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