Treasury Direct 1099-INT: What You Need to Know

The Treasury Direct 1099-INT is an important document that many investors receive each year. It reports the interest income earned on their U.S. Treasury securities.

If you're a Treasury Direct investor, you'll receive a 1099-INT form by January 31st of each year, showing the interest earned on your Treasury securities.

The 1099-INT form will list the total amount of interest earned on your Treasury securities for the tax year. This information will be used to calculate your tax liability.

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To find and obtain your 1099-INT from Treasury Direct, you'll need to log in to your account on Treasurydirect.gov. Choose the ManageDirect tab and then Manage My Taxes, selecting the year 2023 to view your 1099 for tax year 2023.

The process works differently for Treasury Direct than for other bank-issued 1099 forms. You won't receive a physical copy in the mail, but rather a page detailing your earned interest for the 2023 calendar year. Simply print out or save that page of information.

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If you still have securities in Legacy Treasury Direct, you'll receive a 1099-INT form in the mail at the beginning of each year. However, if you need a duplicate or 1099-INT forms for earlier tax years, you can call 844-284-2676 or write to Treasury Retail Securities Services at P.O. Box 9150 Minneapolis, MN 55480-9150.

If you're unsure about your 1099-INT information or it's missing, you can contact your financial institution to address your concerns. Some financial institutions provide documents combined in this manner, so be sure to review your account carefully.

You can also find your 1099-INT by following these steps:

Note that your "Taxable Transaction Summary" is NOT your 1099.

If you have a TreasuryDirect account, you must get your 1099-INT yourself from your account. It's not mailed to you, unlike other bank-issued 1099 forms. To find your 1099, login at Treasurydirect.gov, choose the ManageDirect tab, and then Manage My Taxes, and select the relevant year.

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Your 1099 will be available at the beginning of each year, and it will show your earned interest for the calendar year. You can print out or save the page of information, just like any other 1099. Note that the interest is typically reported in the year you cashed-out the I Bond.

Here's a quick rundown of how to get your 1099-INT from TreasuryDirect:

Keep in mind that your "Taxable Transaction Summary" is NOT your 1099.

Your Form 1099-INT for interest earned from I Bonds must be downloaded directly on the Treasury Direct website, not sent in the mail.

I Bonds report all interest in the year you cashed out the bond, not when the interest was earned.

Interest on I Bonds is only taxable at the federal level, not state or local.

Students can exclude interest earned on I Bonds from taxes if they pay qualified education expenses at an eligible educational institution.

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You can exclude interest on I Bonds from taxes as long as you pay qualified education expenses at an eligible educational institution, but there are many caveats.

For example, room and board are not eligible expenses, and the maximum exclusion is reduced by any non-taxable scholarships or grants.

You must have been at least 24 when the bonds were purchased, and if your expenses are less than the total of all proceeds from all bonds redeemed, the amount of interest you can exclude is reduced by the ratio of expenses to total proceeds.

If you still have securities in Legacy Treasury Direct, you'll receive a 1099-INT in the mail at the beginning of each year. You can also request a duplicate 1099-INT form for the current tax year by calling 844-284-2676 (free call) or +1-304-480-6464 from outside the United States.

To request 1099-INT forms for earlier tax years, write to Treasury Retail Securities Services at P.O. Box 9150, Minneapolis, MN 55480-9150.

Keep your address current with Legacy Treasury Direct until you receive your final tax statement, as you'll no longer receive mailings.

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