Internal Revenue Service United States Department of the Treasury
Module 3: Interest Income

 

Part 1

Determine whether the interest income is taxable or tax-exempt. Answer the following questions by typing the words taxable or tax-exempt in the space provided. To assess your answers, click the Check My Answers button at the bottom of the page.

  1. Interest income is considered
  • A.
  • B.
Part 2

Review Form 1099-INT for Gloria Sanchez by clicking the button View Form 1099-INT. Then, answer the following questions by typing your answers in the space provided. To assess your answers, click the Check My Answers button at the bottom of the page.

View Form 1099-INT
  1. Did the taxpayer earn interest on U.S. Savings Bonds?
  • A.
  • B.
  1. Should taxpayers report taxable interest income that does not appear on Form 1099-INT?
  • A.
  • B.

 

Assessment
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