Where do interest from bonds and CD's go on an income tax return?

Question

Does it go on 1099-INT or 1099 OID?

Answer 1

When you have a CD or a bond where the redemption price is more than the purchase price, you have Original Issue Discount. The difference is interest income and is reported on 1099OID by the payor each year over the life of the investment.

If your CD or bond pays periodic interest, that interest is reported on 1099INT by the payor.

A person receiving interest income whether reported or not enters the interest income on Lines 8a and 8b of Form 1040 (or corresponding lines on the 1040A). If your total interest is more than $1,500 you must also list all the payors and amounts on Schedule B of Form 1040 (or corresponding Schedule of Form 1040A).

Answer 2

Interest goes on 1099-INT
Original issue discount goes on 1099-OID

Both 1099-INT and 1099-OID are sent by the payer to the payee and neither is filed with the tax return.

The total income from both goes on the taxable interest line of the tax return.

If the total exceeds a certain amount, then the amount from each payer, and the name of which payer must also be reported on Schedule B (if filing Form 1040) or Schedule 1 (if filing Form 1040A).

Answer 3

On the tax return it goes on the line that says interest - doesn't matter which kind of 1099 you got of those two, or if it was under $10 and you didn't get one. It would most likely be a 1099-INT.