Quick tax question

teacherjess

Should we have already received all of our forms from our banks regarding interest earned on accounts for the year 2010? I think it is the form called 1099-INT or something. I have only received one of these (out of five different banks) and I'm wondering if they are on the way or if I need to track them down one by one. I am REALLY hoping they might still be on their way, but it seems a little late...

AllieSchmallie

Hey! I just asked my husband (he's an accountant), and he said that any tax documents, including 1099s, don't have to be postmarked until 1/31, so you likely won't receive them until later this week. Hope this helps!

Jessica&Brett

I *believe* that they only send them if your interest is more than $10... I know sometimes I have waited for these from all of my accounts only to find that some of them won't send them.

sistrkate

Both of the above are correct.  They have to be in the mail to you by 1/31, and you won't receive a 1099 statement for any interest paid if the total amount is less than $10.00.

teacherjess

As usual, my question was answered! I am actually fairly sure our interest earned was pretty low, given our awful interest rates for our savings (I really need to get on doing something about that!). I'll keep an eye out in the mail to see if anything else shows up! Thanks, ladies!