Discussion:1099-INT Filing Required?

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Discussion Forum Index --> Accounting Questions --> 1099-INT Filing Required?

JimUtley (talk|edits) said:

15 December 2007
I am confused as to the Form 1099-INT filing requirements. In the IRS instructions for Form 1099-INT under "Interest excluded from reporting", the first sentence says in part "You are not required to file Form 1099-INT for interest on an obligation issued by an individual ..." This seems to me to clearly apply to a loan from a shareholder/partner, or to nearly any small business with a loan from any individual. However, when I tried to find something confirming my interpretation of this, I find lots of discussions, generally concluding that you have to file the form. What am I missing? Isn't a loan from an individual an "obligation issued by an individual"?


Jdugancpa (talk|edits) said:

15 December 2007
Redundant.

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