Form 1099 2023

Payer Information:

Department of the Treasury
Bureau of the Fiscal Service
TreasuryDirect®
PO Box 9150
Minneapolis, MN 55480-9150
(844) 284-2676
Federal Identification Number: 53-0197074

This is important tax information and is being furnished to the Internal Revenue Service (IRS). If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported.

For Privacy Act and Paperwork Reduction Act Notices, see the 2023 General Instructions for Certain Information Returns.

Recipient’s Information:

Instructions for Recipient

General: The information displayed above in the 1099-INT section shows interest paid to you for tax year ending 12-31-2023. The information provided may be different for covered and noncovered securities. For a description of covered securities, see the Instructions for Form 8949. For a taxable covered security acquired at a premium, unless you notified the payer in writing accordance with Regulations section 1.6045-1(n)(5) that you did not want to amortize the premium under section 171, your payer generally must report either (1) a net amount of interest that reflects the offset of the amount of interest paid to you by the amount of premium amortization allocable to the payment(s), or (2) a gross amount for both the interest paid to you and the premium amortization allocable to the payment(s). If you did notify your payer that you did not want to amortize the premium on a taxable covered security, then your payer will only report the gross amount of interest paid to you. For a noncovered security acquired at a premium, your payer is only required to report the gross amount of interest paid to you.

Interest on U.S. Savings Bonds and Treas. obligations (Ref. Box 3): Shows interest on U.S. Savings Bonds, Treasury Bills, Treasury Notes, Treasury Bonds and Treasury Inflation-Protected Securities (TIPS). This may or may not all be taxable. See IRS Pub. 550. This interest is exempt from state and local income taxes. See the instructions above for a taxable covered security acquired at a premium.

Federal Income Tax Withheld (Ref. Box 4): Shows backup withholding. Generally, a payer must backup withhold if you did not furnish your Taxpayer Identification Number (TIN) or you did not furnish the correct TIN to the payer. See IRS Form W-9, Request for Taxpayer Identification Number and Certification, for information on backup withholding. Include this amount on your income tax return as tax withheld.

Market Discount (Ref. Box 10): For a taxable covered security, if you made an election under section 1278 (b) to include market discount in income as it accrues and you notified your payer of the election in writing in accordance with Regulations section 1.6045-1(n)(5), shows the market discount that accrued on the debt instrument during the year while held by you, unless it was reported on Form 1099-OID. For a taxable covered security acquired on or after January 1, 2015, accrued market discount will be calculated on a constant yield basis unless you notified your payer in writing in accordance with Regulations section 1.6045-1(n)(5) that you did not want to make a constant yield election for market discount under section 1276(b). Report the accrued market discount on your income tax return as directed in the instructions for Form 1040.

Bond Premium on Treasury Obligations (Ref. Box 12): For a U.S. Treasury obligation that is a covered security, shows the amount of premium amortization allocable to the interest payment(s), unless you notified the payer in writing in accordance with the Regulations section 1.6045-1(n)(5) that you did not want to amortize bond premium under section 171. If an amount is reported in this box, see the instructions for Schedule B (Form 1040) to determine the net amount of interest includible in income on Form 1040 with respect to the U.S. Treasury obligation. If an amount is not reported in this box for a U.S. Treasury obligation that is a covered security acquired at a premium and the payer is reporting premium amortization, the payer had reported a net amount of interest in box 3. If the amount in box 12 is greater than the amount of interest paid on the U.S. Treasury obligation, see Regulations section 1.171-2(a)(4).

Nominees: If this form includes amounts belonging to another person(s), you are considered a nominee recipient. Complete a Form 1099-INT for each of the other owners showing the income allocable to each. File Copy A of the form with the IRS. Furnish Copy B to each owner. List yourself as the "payer" and the other owner(s) as the "recipient." File Form(s) 1099-INT with Form 1096, with the Internal Revenue Service Center for your area. On Form 1096 list yourself as the "filer." A spouse is not required to file a nominee return to show amounts owned by the other spouse.

Instructions for Recipient

General: Brokers and barter exchanges must report proceeds from (and in some cases, basis for) transactions to you and the IRS on Form 1099-B.

Applicable check box on Form 8949: Indicates where to report this transaction on Form 8949 and Schedule D (Form 1040), and which checkbox is applicable. See the instructions for your Schedule D (Form 1040) and/or Form 8949.

CUSIP Number: Shows the CUSIP (Committee on Uniform Security Identification Procedures) number or other applicable identifying number.

Description of Security (Ref. Box 1a): Shows a brief description of the item or service for which amounts are being reported.

Date Acquired (Ref. Box 1b): This box may be blank if box 5 is checked or if the securities sold were acquired on a variety of dates.

Proceeds (Ref. Box 1d): Shows the cash proceeds, reduced by any commissions or transfer taxes related to the sale, for transactions involving stocks, debt, commodities, forward contracts, non-Section 1256 option contracts, or securities futures contracts. Report this amount on Form 8949 or on Schedule D (Form 1040) (whichever is applicable) as explained in the instructions for Schedule D (Form 1040) .

Cost or other basis (Ref. Box 1e): Shows the cost or other basis of securities sold. If the securities were acquired through the exercise of a noncompensatory option granted or acquired on or after January 1, 2014, the basis has been adjusted to reflect your option premium. If the securities were acquired through the exercise of a noncompensatory option granted or acquired before January 1, 2014, your broker is permitted, but not required, to adjust the basis to reflect your option premium. If the securities were acquired through the exercise of a compensatory option, the basis has not been adjusted to include any amount related to the option that was reported to you on a Form W-2. If box 5 is checked, box 1e may be blank. See the Instructions for Form 8949, the Instructions for Schedule D (Form 1040), or Pub. 550 for details.

Accrued Market Discount (Ref. Box 1f): Shows the amount of accrued market discount. For details on market discount, see the Schedule D (Form 1040) instructions, the Instructions for Form 8949, and Pub. 550. If box 5 is checked, box 1f may be blank.

Type of gain or loss (Ref. Box 2): The short-term and long-term boxes pertain to short-term gain or loss and long-term gain or loss. If box 5 is checked, box 2 may be blank.

If checked, noncovered security (Ref. Box 5): If checked, the securities sold were noncovered securities and boxes 1b, 1e, 1f and 2 may be blank. Generally, a noncovered security means: debt instruments acquired before 2014.

Reported to IRS (Ref. Box 6): Indicates whether the amount in box 1d was adjusted for option premiums. Treasury securities are always reported as gross proceeds.

Check if basis reported to IRS (Ref. Box 12): If checked, the basis in box 1e has been reported to the IRS and either the short-term or the long-term gain or loss in box 2 will be checked. If box 12 is checked on Form(s) 1099-B and NO adjustment is required, see instructions for your Schedule D (Form 1040) as you may be able to report your transaction directly on Schedule D (Form 1040).

Instructions for Recipient

General: Original issue discount (OID) is the excess of an obligation's stated redemption price at maturity over its issue price. OID on a taxable obligation is taxable as interest over the life of the obligation. If you are the holder of a taxable OID obligation, you generally must include an amount of OID in your gross income each year you hold the obligation. Obligations that may have OID include a bond, debenture, note, certificate, or other evidence of indebtedness having a term of more than 1 year. The OID rules apply to Treasury inflation-protected securities. See Pub. 550, Investment Income and Expenses, for more information.

If, as the record holder, you receive Form 1099-OID showing amounts belonging to another person, you are considered a nominee recipient. Complete a Form 1099-OID for each of the other owners showing the amounts allocable to each. File Copy A of the form with the IRS. Furnish Copy B to each owner. List yourself as the "payer" and the other owner as the "recipient." File Form(s) 1099-OID with Form 1096, Annual Summary and Transmittal of U.S. Information Returns, with the Internal Revenue Service Center for your area. On Form 1096, list yourself as the "filer." A spouse is not required to file a nominee return to show amounts owned by the other spouse. If you bought or sold an obligation during the year and you are not a nominee, you are not required to issue or file Form 1099-OID showing the OID or stated interest allocable to the seller/buyer of the obligation.

The information provided may be different for covered and noncovered securities. For a description of covered securities, see the Instructions for Form 8949.

Description (Ref. Box 7): Shows the identification (CUSIP) number or description of the obligation (may include the stock exchange, issuer, coupon rate, and year of maturity).

Original issue discount on U.S. Treasury obligations (Ref. Box 8): Shows OID on a U.S. Treasury obligation for the part of the year you owned it. Report this amount as interest income on your federal income tax return, and see Pub. 1212 to figure any appropriate adjustments to this amount. This OID is exempt from state and local income taxes. If the number in this box is negative, it represents a deflation adjustment. See Pub. 550 for further information on accounting for this adjustment.

Market Discount (Ref. Box 5): For a covered security acquired with OID, if you made an election under section 1278(b) to include market discount in income as it accrues and you notified your payer of the election in writing in accordance with Regulations section 1.6045-1(n)(5), shows the market discount that accrued on the debt instrument during the year while held by you. For a covered security acquired on or after January 1, 2015, market discount will be calculated on a constant yield basis unless you notified your payer in writing in accordance with Regulations section 1.6045-1(n)(5) that you did not want to make a constant yield election for market discount under section 1276(b). Report the accrued market discount on your income tax return as directed in the instructions for Forms 1040.