Ask Experts Questions for FREE Help !
Ask
    Alina_Steigmann's Avatar
    Alina_Steigmann Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 28, 2008, 09:26 AM
    Form 1099
    I received the 1099 Tax Form. The total amountof money that is specified under the Total Interest Paid or credited box is of 10.33 $. Do I have to pay this amount of money, or the IRS has to pay?
    It is mentioned here that "the amount of interest paid or credited to you in the calendar year shown is on an overpayment of a federal tax."
    Thank you
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Feb 28, 2008, 10:04 AM
    It would help if you confirm what specific type of 1099 form this is. If this is a 1099-INT you include this amount as taxable interest received on Schedule B of your 1040 form. If it is a 1099-G then you may have to include it as a taxable refund on line 10 of form 1040 - generally if you itemized deductions in 2006 you have to include it, but see the instructions for line 10 in the 1040 instruction booklet to make sure.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

1099 form [ 4 Answers ]

When by law are previous employers required to send out 1099 forms to former emmployees

Form 1099 received, but do I report on Form 1040 or just Form 2106? [ 1 Answers ]

Greetings. I'm hoping I can get some help on what to do with a 1099-MISC form I received from my employer that were for business expense reimbursements. I have read through some questions and answers already and based on them I'm going to file this as a Form 2106. The question is should I...

1099 Form [ 2 Answers ]

I have been working as a manager since January of 2007 in a trailer park. Getong paid 900 monthly. My rent of 400 is taken out on the 1st and on the 15 I get 500 check which reads as a bill. I was told yesturday that I would be getting a 1099 form at the end of the year. Does this mean I will HAVE...

1099-C form [ 1 Answers ]

Good Morning I have received a 1099-C form and I have no clue what this is and why I got it and how it will affect my taxes is this a Form they are taking the money from the debt it does say cancellation of Debt but just not sure how this works and what or why I am getthing this. Could you please...

1099-G Form [ 4 Answers ]

I just received a 1099-G form in the mail and in box 2 shows a dollar amount and box 3 from year 2005. What is this for? I have my taxes done by an accountant every year. Would this be his mistake if I have to pay?

View more questions Search