Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Income — Wages, Interest, etc. Workout

Interest Income

Skills Workout: Taxable Interest

Question 2 of 2

Hazel has four savings accounts in four different banks. The total amount of interest earned from the accounts is $3,000. Hazel receives four Forms 1099-INT. How should she report this interest income?

A She is not required to report this income
B She enters each amount separately on Form 1040
C She enters the $3,000 total on Form 1040; she does not have to report each payer anywhere
D She lists each payer and amount on Schedule B and files it with her tax return


Publication 4012, Schedule B – Interest and Dividends
Form 1040 Instructions
Schedule B, Interest and Ordinary Dividends

Publication 4012, Schedule B – Interest and Dividends

Form 1040 Instructions

Schedule B, Interest and Ordinary Dividends