File your Taxes for Free!
  • Get your maximum refund*
  • 100% accurate calculations guaranteed*

TurboTax Federal Free Edition - File Taxes Online

Don't let filing your taxes get you down! We'll help make it as easy as possible. With e-file and direct deposit, there's no faster way to get your refund!

Approved TurboTax Affiliate Site. TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.


© 2012 - 2018 All rights reserved.

This is an Approved TurboTax Affiliate site. TurboTax and TurboTax Online, among other are registered trademarks and/or service marks of Intuit, Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
When discussing "Free e-file", note that state e-file is an additional fee. E-file fees do not apply to New York state returns. Prices are subject to change without notice. E-file and get your refund faster
*If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
*Maximum Refund Guarantee - or Your Money Back: If you get a larger refund or smaller tax due from another tax preparation method, we'll refund the applicable TurboTax federal and/or state purchase price paid. TurboTax Federal Free Edition customers are entitled to payment of $14.99 and a refund of your state purchase price paid. Claims must be submitted within sixty (60) days of your TurboTax filing date and no later than 6/15/14. E-file, Audit Defense, Professional Review, Refund Transfer and technical support fees are excluded. This guarantee cannot be combined with the TurboTax Satisfaction (Easy) Guarantee. *We're so confident your return will be done right, we guarantee it. Accurate calculations guaranteed. If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
https://turbotax.intuit.com/corp/guarantees.jsp

Where To File A 2011 Tax Return

Tax Return AmendmentFilling Out 1040ezFile Your Taxes Free OnlineEz File TaxesFree State Tax Return FormsState Tax Forms 1040Turbotax Free Military1040x For 20121040eztaxform2010 TaxesHow Far Back Can You Amend Tax ReturnsAmend 1040ez Tax FormAmended Tax ReturnTax Easy FormCheap State Taxes OnlineIrs Form 1040a Or 1040ezFree 1040ez OnlineTurbotax 2011 Tax ReturnIrsefileHr Block State TaxesEz Tax Form 2011Irs Tax Forms 2012 1040aHow Do I Fill Out A 1040xAmendFree Turbo Tax FilingWww.1040xExtension Form2011 Taxes 2013Ct 1040nr PyHow To Fill Out A 1040x FormFree File2010 Irs 1040ez FormWww Freetaxusa Com Taxes2011Amended Tax FormH&block ComDoes Military Pay State TaxesHr Block Free State ReturnIrs Tax Form 1040ez1040 Ez Form 2011Filing 1040ez

Where To File A 2011 Tax Return

Where to file a 2011 tax return Index A Adjusted basis, Adjusted Basis Assessments For local benefits, Assessments for local benefits. Where to file a 2011 tax return Homeowners association, Homeowners association assessments. Where to file a 2011 tax return Assistance (see Tax help) B Basis, Basis C Certificate, mortgage credit, Who qualifies. Where to file a 2011 tax return Construction, Construction. Where to file a 2011 tax return Cooperatives, Special Rules for Cooperatives, Cooperative apartment. Where to file a 2011 tax return Cost basis, Cost as Basis Credit Mortgage interest, Mortgage Interest Credit D Deduction Home mortgage interest, Deductible Mortgage Interest Real estate taxes, Deductible Real Estate Taxes E Emergency Homeowners' Loan Program, Hardest Hit Fund and Emergency Homeowners' Loan Programs Escrow accounts, Escrow accounts. Where to file a 2011 tax return F Fire insurance premiums, Items not added to basis and not deductible. Where to file a 2011 tax return Form 1098, Mortgage Interest Statement 8396, How to claim the credit. Where to file a 2011 tax return , Figuring the Credit Free tax services, Free help with your tax return. Where to file a 2011 tax return G Gift of home, Gift Ground rent, Ground rent. Where to file a 2011 tax return H Help (see Tax help) HFA Hardest Hit Fund, Hardest Hit Fund and Emergency Homeowners' Loan Programs Home Acquisition debt, Home Acquisition Debt Inherited, Inheritance Mortgage interest, Home Mortgage Interest Purchase of, Purchase. Where to file a 2011 tax return Received as gift, Gift Homeowners association assessments, Homeowners association assessments. Where to file a 2011 tax return House payment, Your house payment. Where to file a 2011 tax return Housing allowance, minister or military, Minister's or military housing allowance. Where to file a 2011 tax return I Improvements, Improvements. Where to file a 2011 tax return Inheritance, Inheritance Insurance, Nondeductible payments. Where to file a 2011 tax return , Items not added to basis and not deductible. Where to file a 2011 tax return Interest Home mortgage, Home Mortgage Interest Prepaid, Prepaid interest. Where to file a 2011 tax return K Keeping records, Keeping Records L Late payment charge, Late payment charge on mortgage payment. Where to file a 2011 tax return Local benefits, assessments for, Assessments for local benefits. Where to file a 2011 tax return M MCC (Mortgage credit certificate), Who qualifies. Where to file a 2011 tax return Minister's or military housing allowance, Minister's or military housing allowance. Where to file a 2011 tax return Mortgage credit certificate (MCC), Who qualifies. Where to file a 2011 tax return Mortgage debt forgiveness, Discharges of qualified principal residence indebtedness. Where to file a 2011 tax return Mortgage insurance premiums, Mortgage Insurance Premiums Mortgage interest Credit, Mortgage Interest Credit Deduction, Deductible Mortgage Interest Late payment charge, Late payment charge on mortgage payment. Where to file a 2011 tax return Paid at settlement, Mortgage Interest Paid at Settlement Refund, Refund of home mortgage interest. Where to file a 2011 tax return , Refund of overpaid interest. Where to file a 2011 tax return Statement, Mortgage Interest Statement Mortgage prepayment penalty, Mortgage prepayment penalty. Where to file a 2011 tax return N Nondeductible payments, Nondeductible payments. Where to file a 2011 tax return , Items not added to basis and not deductible. Where to file a 2011 tax return P Points, Points Prepaid interest, Prepaid interest. Where to file a 2011 tax return Publications (see Tax help) R Real estate taxes, Real Estate Taxes Deductible, Deductible Real Estate Taxes Paid at settlement or closing, Real estate taxes paid at settlement or closing. Where to file a 2011 tax return , Real estate taxes. Where to file a 2011 tax return Refund or rebate, Refund or rebate of real estate taxes. Where to file a 2011 tax return Recordkeeping, Keeping Records Refund of Mortgage interest, Refund of home mortgage interest. Where to file a 2011 tax return , Refund of overpaid interest. Where to file a 2011 tax return Real estate taxes, Refund or rebate of real estate taxes. Where to file a 2011 tax return Repairs, Repairs versus improvements. Where to file a 2011 tax return S Sales taxes, Sales Taxes Settlement or closing costs Basis of home, Settlement or closing costs. Where to file a 2011 tax return Mortgage interest, Mortgage Interest Paid at Settlement Real estate taxes, Real estate taxes paid at settlement or closing. Where to file a 2011 tax return , Real estate taxes. Where to file a 2011 tax return Stamp taxes, Transfer taxes (or stamp taxes). Where to file a 2011 tax return Statement, mortgage interest, Mortgage Interest Statement T Tax help, How To Get Tax Help Taxes Real estate, Real Estate Taxes, Refund of real estate taxes. Where to file a 2011 tax return Transfer taxes, Transfer taxes (or stamp taxes). Where to file a 2011 tax return W What you can and cannot deduct, What You Can and Cannot Deduct Prev  Up     Home   More Online Publications
Español

Health and Nutrition

Find an A-Z list of health topics and resources on insurance, prescription drugs, nutrition, caregiving, and more.

  • Caregivers' Resources
    Help providing care, benefits, long-distance caregiving, legal matters, support for caregivers...
  • Drugs
    Look up drug interactions, compare drugs, learn about Medicare prescription drug coverage, verify your medication's appearance...
  • Food, Nutrition, and Fitness
    Dietary guidelines, food safety, nutrition, fitness, exercise, weight loss and control, food stamps...
  • Health Insurance
    Medicaid, Medicare, Health Insurance Marketplace...
  • Health Topics A-Z
    Find a comprehensive list of topics from MedlinePlus, a service of the U.S. National Library of Medicine and the National Institutes of Health.
  • Health and Nutrition: Online Services
    Body mass calculator, checkups online, clinic locator, dialysis facilities, score your diet...
  • Health by Population Group
    African American health, Native American health, children's health, men's health, women's health...
  • Health News and Resources
    Health news and resources, disease prevention, health data, hospital comparison...
  • Health Services in Your Community
    Doctor and dentist directories, eldercare locators, nursing home comparison, public health clinic locator, state health agencies...

The Where To File A 2011 Tax Return

Where to file a 2011 tax return 7. Where to file a 2011 tax return   Interest Income Table of Contents Reminder Introduction Useful Items - You may want to see: General InformationSSN for joint account. Where to file a 2011 tax return Custodian account for your child. Where to file a 2011 tax return Penalty for failure to supply SSN. Where to file a 2011 tax return Reporting backup withholding. Where to file a 2011 tax return Savings account with parent as trustee. Where to file a 2011 tax return Interest not reported on Form 1099-INT. Where to file a 2011 tax return Nominees. Where to file a 2011 tax return Incorrect amount. Where to file a 2011 tax return Information reporting requirement. Where to file a 2011 tax return Taxable InterestInterest subject to penalty for early withdrawal. Where to file a 2011 tax return Money borrowed to invest in certificate of deposit. Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds Education Savings Bond Program U. Where to file a 2011 tax return S. Where to file a 2011 tax return Treasury Bills, Notes, and Bonds Bonds Sold Between Interest Dates Insurance State or Local Government Obligations Original Issue Discount (OID) When To Report Interest IncomeConstructive receipt. Where to file a 2011 tax return How To Report Interest IncomeSchedule B (Form 1040A or 1040). Where to file a 2011 tax return Reporting tax-exempt interest. Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest previously reported. Where to file a 2011 tax return Reminder Foreign-source income. Where to file a 2011 tax return  If you are a U. Where to file a 2011 tax return S. Where to file a 2011 tax return citizen with interest income from sources outside the United States (foreign income), you must report that income on your tax return unless it is exempt by U. Where to file a 2011 tax return S. Where to file a 2011 tax return law. Where to file a 2011 tax return This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. Where to file a 2011 tax return Introduction This chapter discusses the following topics. Where to file a 2011 tax return Different types of interest income. Where to file a 2011 tax return What interest is taxable and what interest is nontaxable. Where to file a 2011 tax return When to report interest income. Where to file a 2011 tax return How to report interest income on your tax return. Where to file a 2011 tax return In general, any interest you receive or that is credited to your account and can be withdrawn is taxable income. Where to file a 2011 tax return Exceptions to this rule are discussed later in this chapter. Where to file a 2011 tax return You may be able to deduct expenses you have in earning this income on Schedule A (Form 1040) if you itemize your deductions. Where to file a 2011 tax return See Money borrowed to invest in certificate of deposit , later, and chapter 28. Where to file a 2011 tax return Useful Items - You may want to see: Publication 537 Installment Sales 550 Investment Income and Expenses 1212 Guide to Original Issue Discount (OID) Instruments Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends 8815 Exclusion of Interest From Series EE and I U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds Issued After 1989 8818 Optional Form To Record Redemption of Series EE and I U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds Issued After 1989 General Information A few items of general interest are covered here. Where to file a 2011 tax return Recordkeeping. Where to file a 2011 tax return You should keep a list showing sources and interest amounts received during the year. Where to file a 2011 tax return Also, keep the forms you receive showing your interest income (Forms 1099-INT, for example) as an important part of your records. Where to file a 2011 tax return Tax on unearned income of certain children. Where to file a 2011 tax return    Part of a child's 2013 unearned income may be taxed at the parent's tax rate. Where to file a 2011 tax return If so, Form 8615, Tax for Certain Children Who Have Unearned Income, must be completed and attached to the child's tax return. Where to file a 2011 tax return If not, Form 8615 is not required and the child's income is taxed at his or her own tax rate. Where to file a 2011 tax return   Some parents can choose to include the child's interest and dividends on the parent's return. Where to file a 2011 tax return If you can, use Form 8814, Parents' Election To Report Child's Interest and Dividends, for this purpose. Where to file a 2011 tax return   For more information about the tax on unearned income of children and the parents' election, see chapter 31. Where to file a 2011 tax return Beneficiary of an estate or trust. Where to file a 2011 tax return   Interest you receive as a beneficiary of an estate or trust is generally taxable income. Where to file a 2011 tax return You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Where to file a 2011 tax return , from the fiduciary. Where to file a 2011 tax return Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. Where to file a 2011 tax return Social security number (SSN). Where to file a 2011 tax return   You must give your name and SSN or individual tax identification number (ITIN) to any person required by federal tax law to make a return, statement, or other document that relates to you. Where to file a 2011 tax return This includes payers of interest. Where to file a 2011 tax return If you do not give your SSN or ITIN to the payer of interest, you may have to pay a penalty. Where to file a 2011 tax return SSN for joint account. Where to file a 2011 tax return   If the funds in a joint account belong to one person, list that person's name first on the account and give that person's SSN to the payer. Where to file a 2011 tax return (For information on who owns the funds in a joint account, see Joint accounts , later. Where to file a 2011 tax return ) If the joint account contains combined funds, give the SSN of the person whose name is listed first on the account. Where to file a 2011 tax return This is because only one name and SSN can be shown on Form 1099. Where to file a 2011 tax return   These rules apply both to joint ownership by a married couple and to joint ownership by other individuals. Where to file a 2011 tax return For example, if you open a joint savings account with your child using funds belonging to the child, list the child's name first on the account and give the child's SSN. Where to file a 2011 tax return Custodian account for your child. Where to file a 2011 tax return   If your child is the actual owner of an account that is recorded in your name as custodian for the child, give the child's SSN to the payer. Where to file a 2011 tax return For example, you must give your child's SSN to the payer of interest on an account owned by your child, even though the interest is paid to you as custodian. Where to file a 2011 tax return Penalty for failure to supply SSN. Where to file a 2011 tax return   If you do not give your SSN to the payer of interest, you may have to pay a penalty. Where to file a 2011 tax return See Failure to supply SSN under Penalties in chapter 1. Where to file a 2011 tax return Backup withholding also may apply. Where to file a 2011 tax return Backup withholding. Where to file a 2011 tax return   Your interest income is generally not subject to regular withholding. Where to file a 2011 tax return However, it may be subject to backup withholding to ensure that income tax is collected on the income. Where to file a 2011 tax return Under backup withholding, the payer of interest must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. Where to file a 2011 tax return   Backup withholding may also be required if the IRS has determined that you underreported your interest or dividend income. Where to file a 2011 tax return For more information, see Backup Withholding in chapter 4. Where to file a 2011 tax return Reporting backup withholding. Where to file a 2011 tax return   If backup withholding is deducted from your interest income, the payer must give you a Form 1099-INT for the year indicating the amount withheld. Where to file a 2011 tax return The Form 1099-INT will show any backup withholding as “Federal income tax withheld. Where to file a 2011 tax return ” Joint accounts. Where to file a 2011 tax return   If two or more persons hold property (such as a savings account or bond) as joint tenants, tenants by the entirety, or tenants in common, each person's share of any interest from the property is determined by local law. Where to file a 2011 tax return Income from property given to a child. Where to file a 2011 tax return   Property you give as a parent to your child under the Model Gifts of Securities to Minors Act, the Uniform Gifts to Minors Act, or any similar law becomes the child's property. Where to file a 2011 tax return   Income from the property is taxable to the child, except that any part used to satisfy a legal obligation to support the child is taxable to the parent or guardian having that legal obligation. Where to file a 2011 tax return Savings account with parent as trustee. Where to file a 2011 tax return   Interest income from a savings account opened for a minor child, but placed in the name and subject to the order of the parents as trustees, is taxable to the child if, under the law of the state in which the child resides, both of the following are true. Where to file a 2011 tax return The savings account legally belongs to the child. Where to file a 2011 tax return The parents are not legally permitted to use any of the funds to support the child. Where to file a 2011 tax return Form 1099-INT. Where to file a 2011 tax return   Interest income is generally reported to you on Form 1099-INT, or a similar statement, by banks, savings and loans, and other payers of interest. Where to file a 2011 tax return This form shows you the interest you received during the year. Where to file a 2011 tax return Keep this form for your records. Where to file a 2011 tax return You do not have to attach it to your tax return. Where to file a 2011 tax return   Report on your tax return the total interest income you receive for the tax year. Where to file a 2011 tax return Interest not reported on Form 1099-INT. Where to file a 2011 tax return   Even if you do not receive Form 1099-INT, you must still report all of your interest income. Where to file a 2011 tax return For example, you may receive distributive shares of interest from partnerships or S corporations. Where to file a 2011 tax return This interest is reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deduction, Credits, etc. Where to file a 2011 tax return , or Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Where to file a 2011 tax return Nominees. Where to file a 2011 tax return   Generally, if someone receives interest as a nominee for you, that person must give you a Form 1099-INT showing the interest received on your behalf. Where to file a 2011 tax return   If you receive a Form 1099-INT that includes amounts belonging to another person, see the discussion on nominee distributions under How To Report Interest Income in chapter 1 of Publication 550, or Schedule B (Form 1040A or 1040) instructions. Where to file a 2011 tax return Incorrect amount. Where to file a 2011 tax return   If you receive a Form 1099-INT that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. Where to file a 2011 tax return The new Form 1099-INT you receive will be marked “Corrected. Where to file a 2011 tax return ” Form 1099-OID. Where to file a 2011 tax return   Reportable interest income also may be shown on Form 1099-OID, Original Issue Discount. Where to file a 2011 tax return For more information about amounts shown on this form, see Original Issue Discount (OID) , later in this chapter. Where to file a 2011 tax return Exempt-interest dividends. Where to file a 2011 tax return   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. Where to file a 2011 tax return (However, see Information reporting requirement , next. Where to file a 2011 tax return ) Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. Where to file a 2011 tax return You do not reduce your basis for distributions that are exempt-interest dividends. Where to file a 2011 tax return Information reporting requirement. Where to file a 2011 tax return   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file. Where to file a 2011 tax return This is an information reporting requirement and does not change the exempt-interest dividends into taxable income. Where to file a 2011 tax return Note. Where to file a 2011 tax return Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. Where to file a 2011 tax return See Alternative Minimum Tax (AMT) in chapter 30 for more information. Where to file a 2011 tax return Chapter 1 of Publication 550 contains a discussion on private activity bonds under State or Local Government Obligations. Where to file a 2011 tax return Interest on VA dividends. Where to file a 2011 tax return   Interest on insurance dividends left on deposit with the Department of Veterans Affairs (VA) is not taxable. Where to file a 2011 tax return This includes interest paid on dividends on converted United States Government Life Insurance and on National Service Life Insurance policies. Where to file a 2011 tax return Individual retirement arrangements (IRAs). Where to file a 2011 tax return   Interest on a Roth IRA generally is not taxable. Where to file a 2011 tax return Interest on a traditional IRA is tax deferred. Where to file a 2011 tax return You generally do not include it in your income until you make withdrawals from the IRA. Where to file a 2011 tax return See chapter 17. Where to file a 2011 tax return Taxable Interest Taxable interest includes interest you receive from bank accounts, loans you make to others, and other sources. Where to file a 2011 tax return The following are some sources of taxable interest. Where to file a 2011 tax return Dividends that are actually interest. Where to file a 2011 tax return   Certain distributions commonly called dividends are actually interest. Where to file a 2011 tax return You must report as interest so-called “dividends” on deposits or on share accounts in: Cooperative banks, Credit unions, Domestic building and loan associations, Domestic savings and loan associations, Federal savings and loan associations, and Mutual savings banks. Where to file a 2011 tax return  The “dividends” will be shown as interest income on Form 1099-INT. Where to file a 2011 tax return Money market funds. Where to file a 2011 tax return   Money market funds pay dividends and are offered by nonbank financial institutions, such as mutual funds and stock brokerage houses. Where to file a 2011 tax return Generally, amounts you receive from money market funds should be reported as dividends, not as interest. Where to file a 2011 tax return Certificates of deposit and other deferred interest accounts. Where to file a 2011 tax return   If you open any of these accounts, interest may be paid at fixed intervals of 1 year or less during the term of the account. Where to file a 2011 tax return You generally must include this interest in your income when you actually receive it or are entitled to receive it without paying a substantial penalty. Where to file a 2011 tax return The same is true for accounts that mature in 1 year or less and pay interest in a single payment at maturity. Where to file a 2011 tax return If interest is deferred for more than 1 year, see Original Issue Discount (OID) , later. Where to file a 2011 tax return Interest subject to penalty for early withdrawal. Where to file a 2011 tax return   If you withdraw funds from a deferred interest account before maturity, you may have to pay a penalty. Where to file a 2011 tax return You must report the total amount of interest paid or credited to your account during the year, without subtracting the penalty. Where to file a 2011 tax return See Penalty on early withdrawal of savings in chapter 1 of Publication 550 for more information on how to report the interest and deduct the penalty. Where to file a 2011 tax return Money borrowed to invest in certificate of deposit. Where to file a 2011 tax return   The interest you pay on money borrowed from a bank or savings institution to meet the minimum deposit required for a certificate of deposit from the institution and the interest you earn on the certificate are two separate items. Where to file a 2011 tax return You must report the total interest you earn on the certificate in your income. Where to file a 2011 tax return If you itemize deductions, you can deduct the interest you pay as investment interest, up to the amount of your net investment income. Where to file a 2011 tax return See Interest Expenses in chapter 3 of Publication 550. Where to file a 2011 tax return Example. Where to file a 2011 tax return You deposited $5,000 with a bank and borrowed $5,000 from the bank to make up the $10,000 minimum deposit required to buy a 6-month certificate of deposit. Where to file a 2011 tax return The certificate earned $575 at maturity in 2013, but you received only $265, which represented the $575 you earned minus $310 interest charged on your $5,000 loan. Where to file a 2011 tax return The bank gives you a Form 1099-INT for 2013 showing the $575 interest you earned. Where to file a 2011 tax return The bank also gives you a statement showing that you paid $310 interest for 2013. Where to file a 2011 tax return You must include the $575 in your income. Where to file a 2011 tax return If you itemize your deductions on Schedule A (Form 1040), you can deduct $310, subject to the net investment income limit. Where to file a 2011 tax return Gift for opening account. Where to file a 2011 tax return   If you receive noncash gifts or services for making deposits or for opening an account in a savings institution, you may have to report the value as interest. Where to file a 2011 tax return   For deposits of less than $5,000, gifts or services valued at more than $10 must be reported as interest. Where to file a 2011 tax return For deposits of $5,000 or more, gifts or services valued at more than $20 must be reported as interest. Where to file a 2011 tax return The value is determined by the cost to the financial institution. Where to file a 2011 tax return Example. Where to file a 2011 tax return You open a savings account at your local bank and deposit $800. Where to file a 2011 tax return The account earns $20 interest. Where to file a 2011 tax return You also receive a $15 calculator. Where to file a 2011 tax return If no other interest is credited to your account during the year, the Form 1099-INT you receive will show $35 interest for the year. Where to file a 2011 tax return You must report $35 interest income on your tax return. Where to file a 2011 tax return Interest on insurance dividends. Where to file a 2011 tax return   Interest on insurance dividends left on deposit with an insurance company that can be withdrawn annually is taxable to you in the year it is credited to your account. Where to file a 2011 tax return However, if you can withdraw it only on the anniversary date of the policy (or other specified date), the interest is taxable in the year that date occurs. Where to file a 2011 tax return Prepaid insurance premiums. Where to file a 2011 tax return   Any increase in the value of prepaid insurance premiums, advance premiums, or premium deposit funds is interest if it is applied to the payment of premiums due on insurance policies or made available for you to withdraw. Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return obligations. Where to file a 2011 tax return   Interest on U. Where to file a 2011 tax return S. Where to file a 2011 tax return obligations, such as U. Where to file a 2011 tax return S. Where to file a 2011 tax return Treasury bills, notes, and bonds, issued by any agency or instrumentality of the United States is taxable for federal income tax purposes. Where to file a 2011 tax return Interest on tax refunds. Where to file a 2011 tax return   Interest you receive on tax refunds is taxable income. Where to file a 2011 tax return Interest on condemnation award. Where to file a 2011 tax return   If the condemning authority pays you interest to compensate you for a delay in payment of an award, the interest is taxable. Where to file a 2011 tax return Installment sale payments. Where to file a 2011 tax return   If a contract for the sale or exchange of property provides for deferred payments, it also usually provides for interest payable with the deferred payments. Where to file a 2011 tax return That interest is taxable when you receive it. Where to file a 2011 tax return If little or no interest is provided for in a deferred payment contract, part of each payment may be treated as interest. Where to file a 2011 tax return See Unstated Interest and Original Issue Discount in Publication 537, Installment Sales. Where to file a 2011 tax return Interest on annuity contract. Where to file a 2011 tax return   Accumulated interest on an annuity contract you sell before its maturity date is taxable. Where to file a 2011 tax return Usurious interest. Where to file a 2011 tax return   Usurious interest is interest charged at an illegal rate. Where to file a 2011 tax return This is taxable as interest unless state law automatically changes it to a payment on the principal. Where to file a 2011 tax return Interest income on frozen deposits. Where to file a 2011 tax return   Exclude from your gross income interest on frozen deposits. Where to file a 2011 tax return A deposit is frozen if, at the end of the year, you cannot withdraw any part of the deposit because: The financial institution is bankrupt or insolvent, or The state where the institution is located has placed limits on withdrawals because other financial institutions in the state are bankrupt or insolvent. Where to file a 2011 tax return   The amount of interest you must exclude is the interest that was credited on the frozen deposits minus the sum of: The net amount you withdrew from these deposits during the year, and The amount you could have withdrawn as of the end of the year (not reduced by any penalty for premature withdrawals of a time deposit). Where to file a 2011 tax return If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2013, see Frozen deposits under How To Report Interest Income in chapter 1 of Publication 550, for information about reporting this interest income exclusion on your tax return. Where to file a 2011 tax return   The interest you exclude is treated as credited to your account in the following year. Where to file a 2011 tax return You must include it in income in the year you can withdraw it. Where to file a 2011 tax return Example. Where to file a 2011 tax return $100 of interest was credited on your frozen deposit during the year. Where to file a 2011 tax return You withdrew $80 but could not withdraw any more as of the end of the year. Where to file a 2011 tax return You must include $80 in your income and exclude $20 from your income for the year. Where to file a 2011 tax return You must include the $20 in your income for the year you can withdraw it. Where to file a 2011 tax return Bonds traded flat. Where to file a 2011 tax return   If you buy a bond at a discount when interest has been defaulted or when the interest has accrued but has not been paid, the transaction is described as trading a bond flat. Where to file a 2011 tax return The defaulted or unpaid interest is not income and is not taxable as interest if paid later. Where to file a 2011 tax return When you receive a payment of that interest, it is a return of capital that reduces the remaining cost basis of your bond. Where to file a 2011 tax return Interest that accrues after the date of purchase, however, is taxable interest income for the year it is received or accrued. Where to file a 2011 tax return See Bonds Sold Between Interest Dates , later, for more information. Where to file a 2011 tax return Below-market loans. Where to file a 2011 tax return   In general, a below-market loan is a loan on which no interest is charged or on which interest is charged at a rate below the applicable federal rate. Where to file a 2011 tax return See Below-Market Loans in chapter 1 of Publication 550 for more information. Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds This section provides tax information on U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds. Where to file a 2011 tax return It explains how to report the interest income on these bonds and how to treat transfers of these bonds. Where to file a 2011 tax return For other information on U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds, write to:  For series EE and I paper savings bonds: Bureau of the Public Debt Division of Customer Assistance P. Where to file a 2011 tax return O. Where to file a 2011 tax return Box 7012 Parkersburg, WV 26106-7012  For series EE and I electronic bonds: Bureau of the Public Debt Division of Customer Assistance P. Where to file a 2011 tax return O. Where to file a 2011 tax return Box 7015 Parkersburg, WV 26106–7015  For series HH/H: Bureau of the Public Debt Division of Customer Assistance P. Where to file a 2011 tax return O. Where to file a 2011 tax return Box 2186 Parkersburg, WV 26106-2186 Or, on the Internet, visit: www. Where to file a 2011 tax return treasurydirect. Where to file a 2011 tax return gov/indiv/indiv. Where to file a 2011 tax return htm. Where to file a 2011 tax return Accrual method taxpayers. Where to file a 2011 tax return   If you use an accrual method of accounting, you must report interest on U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds each year as it accrues. Where to file a 2011 tax return You cannot postpone reporting interest until you receive it or until the bonds mature. Where to file a 2011 tax return Accrual methods of accounting are explained in chapter 1 under Accounting Methods . Where to file a 2011 tax return Cash method taxpayers. Where to file a 2011 tax return   If you use the cash method of accounting, as most individual taxpayers do, you generally report the interest on U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds when you receive it. Where to file a 2011 tax return The cash method of accounting is explained in chapter 1 under Accounting Methods. Where to file a 2011 tax return But see Reporting options for cash method taxpayers , later. Where to file a 2011 tax return Series HH bonds. Where to file a 2011 tax return    These bonds were issued at face value. Where to file a 2011 tax return Interest is paid twice a year by direct deposit to your bank account. Where to file a 2011 tax return If you are a cash method taxpayer, you must report interest on these bonds as income in the year you receive it. Where to file a 2011 tax return   Series HH bonds were first offered in 1980 and last offered in August 2004. Where to file a 2011 tax return Before 1980, series H bonds were issued. Where to file a 2011 tax return Series H bonds are treated the same as series HH bonds. Where to file a 2011 tax return If you are a cash method taxpayer, you must report the interest when you receive it. Where to file a 2011 tax return   Series H bonds have a maturity period of 30 years. Where to file a 2011 tax return Series HH bonds mature in 20 years. Where to file a 2011 tax return The last series H bonds matured in 2009. Where to file a 2011 tax return Series EE and series I bonds. Where to file a 2011 tax return   Interest on these bonds is payable when you redeem the bonds. Where to file a 2011 tax return The difference between the purchase price and the redemption value is taxable interest. Where to file a 2011 tax return Series EE bonds. Where to file a 2011 tax return   Series EE bonds were first offered in January 1980 and have a maturity period of 30 years. Where to file a 2011 tax return   Before July 1980, series E bonds were issued. Where to file a 2011 tax return The original 10-year maturity period of series E bonds has been extended to 40 years for bonds issued before December 1965 and 30 years for bonds issued after November 1965. Where to file a 2011 tax return Paper series EE and series E bonds are issued at a discount. Where to file a 2011 tax return The face value is payable to you at maturity. Where to file a 2011 tax return Electronic series EE bonds are issued at their face value. Where to file a 2011 tax return The face value plus accrued interest is payable to you at maturity. Where to file a 2011 tax return As of January 1, 2012, paper savings bonds were no longer sold at financial institutions. Where to file a 2011 tax return   Owners of paper series EE bonds can convert them to electronic bonds. Where to file a 2011 tax return These converted bonds do not retain the denomination listed on the paper certificate but are posted at their purchase price (with accrued interest). Where to file a 2011 tax return Series I bonds. Where to file a 2011 tax return   Series I bonds were first offered in 1998. Where to file a 2011 tax return These are inflation-indexed bonds issued at their face amount with a maturity period of 30 years. Where to file a 2011 tax return The face value plus all accrued interest is payable to you at maturity. Where to file a 2011 tax return Reporting options for cash method taxpayers. Where to file a 2011 tax return   If you use the cash method of reporting income, you can report the interest on series EE, series E, and series I bonds in either of the following ways. Where to file a 2011 tax return Method 1. Where to file a 2011 tax return Postpone reporting the interest until the earlier of the year you cash or dispose of the bonds or the year they mature. Where to file a 2011 tax return (However, see Savings bonds traded , later. Where to file a 2011 tax return )  Note. Where to file a 2011 tax return Series EE bonds issued in 1983 matured in 2013. Where to file a 2011 tax return If you have used method 1, you generally must report the interest on these bonds on your 2013 return. Where to file a 2011 tax return The last series E bonds were issued in 1980 and matured in 2010. Where to file a 2011 tax return If you used method 1, you generally should have reported the interest on these bonds on your 2010 return. Where to file a 2011 tax return Method 2. Where to file a 2011 tax return Choose to report the increase in redemption value as interest each year. Where to file a 2011 tax return You must use the same method for all series EE, series E, and series I bonds you own. Where to file a 2011 tax return If you do not choose method 2 by reporting the increase in redemption value as interest each year, you must use method 1. Where to file a 2011 tax return    If you plan to cash your bonds in the same year you will pay for higher education expenses, you may want to use method 1 because you may be able to exclude the interest from your income. Where to file a 2011 tax return To learn how, see Education Savings Bond Program, later. Where to file a 2011 tax return Change from method 1. Where to file a 2011 tax return   If you want to change your method of reporting the interest from method 1 to method 2, you can do so without permission from the IRS. Where to file a 2011 tax return In the year of change you must report all interest accrued to date and not previously reported for all your bonds. Where to file a 2011 tax return   Once you choose to report the interest each year, you must continue to do so for all series EE, series E, and series I bonds you own and for any you get later, unless you request permission to change, as explained next. Where to file a 2011 tax return Change from method 2. Where to file a 2011 tax return   To change from method 2 to method 1, you must request permission from the IRS. Where to file a 2011 tax return Permission for the change is automatically granted if you send the IRS a statement that meets all the following requirements. Where to file a 2011 tax return You have typed or printed the following number at the top: “131. Where to file a 2011 tax return ” It includes your name and social security number under “131. Where to file a 2011 tax return ” It includes the year of change (both the beginning and ending dates). Where to file a 2011 tax return It identifies the savings bonds for which you are requesting this change. Where to file a 2011 tax return It includes your agreement to: Report all interest on any bonds acquired during or after the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, and Report all interest on the bonds acquired before the year of change when the interest is realized upon disposition, redemption, or final maturity, whichever is earliest, with the exception of the interest reported in prior tax years. Where to file a 2011 tax return   You must attach this statement to your tax return for the year of change, which you must file by the due date (including extensions). Where to file a 2011 tax return   You can have an automatic extension of 6 months from the due date of your return for the year of change (excluding extensions) to file the statement with an amended return. Where to file a 2011 tax return On the statement, type or print “Filed pursuant to section 301. Where to file a 2011 tax return 9100-2. Where to file a 2011 tax return ” To get this extension, you must have filed your original return for the year of the change by the due date (including extensions). Where to file a 2011 tax return    By the date you file the original statement with your return, you must also send a signed copy to the address below. Where to file a 2011 tax return   Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) P. Where to file a 2011 tax return O. Where to file a 2011 tax return Box 7604 Benjamin Franklin Station Washington, DC 20044   If you use a private delivery service, send the signed copy to the address below. Where to file a 2011 tax return   Internal Revenue Service Attention: CC:IT&A (Automatic Rulings Branch) Room 5336 1111 Constitution Avenue, NW  Washington, DC 20224   Instead of filing this statement, you can request permission to change from method 2 to method 1 by filing Form 3115, Application for Change in Accounting Method. Where to file a 2011 tax return In that case, follow the form instructions for an automatic change. Where to file a 2011 tax return No user fee is required. Where to file a 2011 tax return Co-owners. Where to file a 2011 tax return   If a U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond is issued in the names of co-owners, such as you and your child or you and your spouse, interest on the bond is generally taxable to the co-owner who bought the bond. Where to file a 2011 tax return One co-owner's funds used. Where to file a 2011 tax return    If you used your funds to buy the bond, you must pay the tax on the interest. Where to file a 2011 tax return This is true even if you let the other co-owner redeem the bond and keep all the proceeds. Where to file a 2011 tax return Under these circumstances, the co-owner who redeemed the bond will receive a Form 1099-INT at the time of redemption and must provide you with another Form 1099-INT showing the amount of interest from the bond taxable to you. Where to file a 2011 tax return The co-owner who redeemed the bond is a “nominee. Where to file a 2011 tax return ” See Nominee distributions under How To Report Interest Income in chapter 1 of Publication 550 for more information about how a person who is a nominee reports interest income belonging to another person. Where to file a 2011 tax return Both co-owners' funds used. Where to file a 2011 tax return   If you and the other co-owner each contribute part of the bond's purchase price, the interest is generally taxable to each of you, in proportion to the amount each of you paid. Where to file a 2011 tax return Community property. Where to file a 2011 tax return   If you and your spouse live in a community property state and hold bonds as community property, one-half of the interest is considered received by each of you. Where to file a 2011 tax return If you file separate returns, each of you generally must report one-half of the bond interest. Where to file a 2011 tax return For more information about community property, see Publication 555. Where to file a 2011 tax return Table 7-1. Where to file a 2011 tax return   These rules are also shown in Table 7-1. Where to file a 2011 tax return Ownership transferred. Where to file a 2011 tax return   If you bought series E, series EE, or series I bonds entirely with your own funds and had them reissued in your co-owner's name or beneficiary's name alone, you must include in your gross income for the year of reissue all interest that you earned on these bonds and have not previously reported. Where to file a 2011 tax return But, if the bonds were reissued in your name alone, you do not have to report the interest accrued at that time. Where to file a 2011 tax return   This same rule applies when bonds (other than bonds held as community property) are transferred between spouses or incident to divorce. Where to file a 2011 tax return Purchased jointly. Where to file a 2011 tax return   If you and a co-owner each contributed funds to buy series E, series EE, or series I bonds jointly and later have the bonds reissued in the co-owner's name alone, you must include in your gross income for the year of reissue your share of all the interest earned on the bonds that you have not previously reported. Where to file a 2011 tax return The former co-owner does not have to include in gross income at the time of reissue his or her share of the interest earned that was not reported before the transfer. Where to file a 2011 tax return This interest, however, as well as all interest earned after the reissue, is income to the former co-owner. Where to file a 2011 tax return   This income-reporting rule also applies when the bonds are reissued in the name of your former co-owner and a new co-owner. Where to file a 2011 tax return But the new co-owner will report only his or her share of the interest earned after the transfer. Where to file a 2011 tax return   If bonds that you and a co-owner bought jointly are reissued to each of you separately in the same proportion as your contribution to the purchase price, neither you nor your co-owner has to report at that time the interest earned before the bonds were reissued. Where to file a 2011 tax return    Table 7-1. Where to file a 2011 tax return Who Pays the Tax on U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bond Interest IF . Where to file a 2011 tax return . Where to file a 2011 tax return . Where to file a 2011 tax return THEN the interest must be reported by . Where to file a 2011 tax return . Where to file a 2011 tax return . Where to file a 2011 tax return you buy a bond in your name and the name of another person as co-owners, using only your own funds you. Where to file a 2011 tax return you buy a bond in the name of another person, who is the sole owner of the bond the person for whom you bought the bond. Where to file a 2011 tax return you and another person buy a bond as co-owners, each contributing part of the purchase price both you and the other co-owner, in proportion to the amount each paid for the bond. Where to file a 2011 tax return you and your spouse, who live in a community property state, buy a bond that is community property you and your spouse. Where to file a 2011 tax return If you file separate returns, both you and your spouse generally report one-half of the interest. Where to file a 2011 tax return Example 1. Where to file a 2011 tax return You and your spouse each spent an equal amount to buy a $1,000 series EE savings bond. Where to file a 2011 tax return The bond was issued to you and your spouse as co-owners. Where to file a 2011 tax return You both postpone reporting interest on the bond. Where to file a 2011 tax return You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Where to file a 2011 tax return At that time neither you nor your spouse has to report the interest earned to the date of reissue. Where to file a 2011 tax return Example 2. Where to file a 2011 tax return You bought a $1,000 series EE savings bond entirely with your own funds. Where to file a 2011 tax return The bond was issued to you and your spouse as co-owners. Where to file a 2011 tax return You both postpone reporting interest on the bond. Where to file a 2011 tax return You later have the bond reissued as two $500 bonds, one in your name and one in your spouse's name. Where to file a 2011 tax return You must report half the interest earned to the date of reissue. Where to file a 2011 tax return Transfer to a trust. Where to file a 2011 tax return   If you own series E, series EE, or series I bonds and transfer them to a trust, giving up all rights of ownership, you must include in your income for that year the interest earned to the date of transfer if you have not already reported it. Where to file a 2011 tax return However, if you are considered the owner of the trust and if the increase in value both before and after the transfer continues to be taxable to you, you can continue to defer reporting the interest earned each year. Where to file a 2011 tax return You must include the total interest in your income in the year you cash or dispose of the bonds or the year the bonds finally mature, whichever is earlier. Where to file a 2011 tax return   The same rules apply to previously unreported interest on series EE or series E bonds if the transfer to a trust consisted of series HH or series H bonds you acquired in a trade for the series EE or series E bonds. Where to file a 2011 tax return See Savings bonds traded , later. Where to file a 2011 tax return Decedents. Where to file a 2011 tax return   The manner of reporting interest income on series E, series EE, or series I bonds, after the death of the owner (decedent), depends on the accounting and income-reporting methods previously used by the decedent. Where to file a 2011 tax return This is explained in chapter 1 of Publication 550. Where to file a 2011 tax return Savings bonds traded. Where to file a 2011 tax return   If you postponed reporting the interest on your series EE or series E bonds, you did not recognize taxable income when you traded the bonds for series HH or series H bonds, unless you received cash in the trade. Where to file a 2011 tax return (You cannot trade series I bonds for series HH bonds. Where to file a 2011 tax return After August 31, 2004, you cannot trade any other series of bonds for series HH bonds. Where to file a 2011 tax return ) Any cash you received is income up to the amount of the interest earned on the bonds traded. Where to file a 2011 tax return When your series HH or series H bonds mature, or if you dispose of them before maturity, you report as interest the difference between their redemption value and your cost. Where to file a 2011 tax return Your cost is the sum of the amount you paid for the traded series EE or series E bonds plus any amount you had to pay at the time of the trade. Where to file a 2011 tax return Example. Where to file a 2011 tax return You traded series EE bonds (on which you postponed reporting the interest) for $2,500 in series HH bonds and $223 in cash. Where to file a 2011 tax return You reported the $223 as taxable income on your tax return. Where to file a 2011 tax return At the time of the trade, the series EE bonds had accrued interest of $523 and a redemption value of $2,723. Where to file a 2011 tax return You hold the series HH bonds until maturity, when you receive $2,500. Where to file a 2011 tax return You must report $300 as interest income in the year of maturity. Where to file a 2011 tax return This is the difference between their redemption value, $2,500, and your cost, $2,200 (the amount you paid for the series EE bonds). Where to file a 2011 tax return (It is also the difference between the accrued interest of $523 on the series EE bonds and the $223 cash received on the trade. Where to file a 2011 tax return ) Choice to report interest in year of trade. Where to file a 2011 tax return   You could have chosen to treat all of the previously unreported accrued interest on the series EE or series E bonds traded for series HH bonds as income in the year of the trade. Where to file a 2011 tax return If you made this choice, it is treated as a change from method 1. Where to file a 2011 tax return See Change from method 1 under Series EE and series I bonds, earlier. Where to file a 2011 tax return Form 1099-INT for U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds interest. Where to file a 2011 tax return   When you cash a bond, the bank or other payer that redeems it must give you a Form 1099-INT if the interest part of the payment you receive is $10 or more. Where to file a 2011 tax return Box 3 of your Form 1099-INT should show the interest as the difference between the amount you received and the amount paid for the bond. Where to file a 2011 tax return However, your Form 1099-INT may show more interest than you have to include on your income tax return. Where to file a 2011 tax return For example, this may happen if any of the following are true. Where to file a 2011 tax return You chose to report the increase in the redemption value of the bond each year. Where to file a 2011 tax return The interest shown on your Form 1099-INT will not be reduced by amounts previously included in income. Where to file a 2011 tax return You received the bond from a decedent. Where to file a 2011 tax return The interest shown on your Form 1099-INT will not be reduced by any interest reported by the decedent before death, or on the decedent's final return, or by the estate on the estate's income tax return. Where to file a 2011 tax return Ownership of the bond was transferred. Where to file a 2011 tax return The interest shown on your Form 1099-INT will not be reduced by interest that accrued before the transfer. Where to file a 2011 tax return You were named as a co-owner, and the other co-owner contributed funds to buy the bond. Where to file a 2011 tax return The interest shown on your Form 1099-INT will not be reduced by the amount you received as nominee for the other co-owner. Where to file a 2011 tax return (See Co-owners , earlier in this chapter, for more information about the reporting requirements. Where to file a 2011 tax return ) You received the bond in a taxable distribution from a retirement or profit-sharing plan. Where to file a 2011 tax return The interest shown on your Form 1099-INT will not be reduced by the interest portion of the amount taxable as a distribution from the plan and not taxable as interest. Where to file a 2011 tax return (This amount is generally shown on Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. Where to file a 2011 tax return , for the year of distribution. Where to file a 2011 tax return )   For more information on including the correct amount of interest on your return, see How To Report Interest Income , later. Where to file a 2011 tax return Publication 550 includes examples showing how to report these amounts. Where to file a 2011 tax return    Interest on U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds is exempt from state and local taxes. Where to file a 2011 tax return The Form 1099-INT you receive will indicate the amount that is for U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest in box 3. Where to file a 2011 tax return Education Savings Bond Program You may be able to exclude from income all or part of the interest you receive on the redemption of qualified U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds during the year if you pay qualified higher educational expenses during the same year. Where to file a 2011 tax return This exclusion is known as the Education Savings Bond Program. Where to file a 2011 tax return You do not qualify for this exclusion if your filing status is married filing separately. Where to file a 2011 tax return Form 8815. Where to file a 2011 tax return   Use Form 8815 to figure your exclusion. Where to file a 2011 tax return Attach the form to your Form 1040 or Form 1040A. Where to file a 2011 tax return Qualified U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds. Where to file a 2011 tax return   A qualified U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond is a series EE bond issued after 1989 or a series I bond. Where to file a 2011 tax return The bond must be issued either in your name (sole owner) or in your and your spouse's names (co-owners). Where to file a 2011 tax return You must be at least 24 years old before the bond's issue date. Where to file a 2011 tax return For example, a bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child. Where to file a 2011 tax return    The issue date of a bond may be earlier than the date the bond is purchased because the issue date assigned to a bond is the first day of the month in which it is purchased. Where to file a 2011 tax return Beneficiary. Where to file a 2011 tax return   You can designate any individual (including a child) as a beneficiary of the bond. Where to file a 2011 tax return Verification by IRS. Where to file a 2011 tax return   If you claim the exclusion, the IRS will check it by using bond redemption information from the Department of the Treasury. Where to file a 2011 tax return Qualified expenses. Where to file a 2011 tax return   Qualified higher educational expenses are tuition and fees required for you, your spouse, or your dependent (for whom you claim an exemption) to attend an eligible educational institution. Where to file a 2011 tax return   Qualified expenses include any contribution you make to a qualified tuition program or to a Coverdell education savings account. Where to file a 2011 tax return   Qualified expenses do not include expenses for room and board or for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. Where to file a 2011 tax return Eligible educational institutions. Where to file a 2011 tax return   These institutions include most public, private, and nonprofit universities, colleges, and vocational schools that are accredited and eligible to participate in student aid programs run by the U. Where to file a 2011 tax return S. Where to file a 2011 tax return Department of Education. Where to file a 2011 tax return Reduction for certain benefits. Where to file a 2011 tax return   You must reduce your qualified higher educational expenses by all of the following tax-free benefits. Where to file a 2011 tax return Tax-free part of scholarships and fellowships (see Scholarships and fellowships in chapter 12). Where to file a 2011 tax return Expenses used to figure the tax-free portion of distributions from a Coverdell ESA. Where to file a 2011 tax return Expenses used to figure the tax-free portion of distributions from a qualified tuition program. Where to file a 2011 tax return Any tax-free payments (other than gifts or inheritances) received for educational expenses, such as Veterans' educational assistance benefits, Qualified tuition reductions, or Employer-provided educational assistance. Where to file a 2011 tax return Any expense used in figuring the American Opportunity and lifetime learning credits. Where to file a 2011 tax return Amount excludable. Where to file a 2011 tax return   If the total proceeds (interest and principal) from the qualified U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds you redeem during the year are not more than your adjusted qualified higher educational expenses for the year, you may be able to exclude all of the interest. Where to file a 2011 tax return If the proceeds are more than the expenses, you may be able to exclude only part of the interest. Where to file a 2011 tax return   To determine the excludable amount, multiply the interest part of the proceeds by a fraction. Where to file a 2011 tax return The numerator of the fraction is the qualified higher educational expenses you paid during the year. Where to file a 2011 tax return The denominator of the fraction is the total proceeds you received during the year. Where to file a 2011 tax return Example. Where to file a 2011 tax return In February 2013, Mark and Joan, a married couple, cashed a qualified series EE U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond they bought in April 1997. Where to file a 2011 tax return They received proceeds of $8,372 representing principal of $5,000 and interest of $3,372. Where to file a 2011 tax return In 2013, they paid $4,000 of their daughter's college tuition. Where to file a 2011 tax return They are not claiming an education credit for that amount, and their daughter does not have any tax-free educational assistance. Where to file a 2011 tax return They can exclude $1,611 ($3,372 × ($4,000 ÷ $8,372)) of interest in 2013. Where to file a 2011 tax return They must pay tax on the remaining $1,761 ($3,372 − $1,611) interest. Where to file a 2011 tax return Modified adjusted gross income limit. Where to file a 2011 tax return   The interest exclusion is limited if your modified adjusted gross income (modified AGI) is: $74,700 to $89,700 for taxpayers filing single or head of household, and $112,050 to $142,050 for married taxpayers filing jointly or for a qualifying widow(er) with dependent child. Where to file a 2011 tax return You do not qualify for the interest exclusion if your modified AGI is equal to or more than the upper limit for your filing status. Where to file a 2011 tax return   Modified AGI, for purposes of this exclusion, is adjusted gross income (Form 1040, line 37, or Form 1040A, line 21) figured before the interest exclusion, and modified by adding back any: Foreign earned income exclusion, Foreign housing exclusion and deduction, Exclusion of income for bona fide residents of American Samoa, Exclusion for income from Puerto Rico, Exclusion for adoption benefits received under an employer's adoption assistance program, Deduction for tuition and fees, Deduction for student loan interest, and Deduction for domestic production activities. Where to file a 2011 tax return   Use the Line 9 Worksheet in the Form 8815 instructions to figure your modified AGI. Where to file a 2011 tax return If you claim any of the exclusion or deduction items listed above (except items 6, 7, and 8), add the amount of the exclusion or deduction (except items 6, 7, and 8) to the amount on line 5 of the worksheet, and enter the total on Form 8815, line 9, as your modified AGI. Where to file a 2011 tax return   If you have investment interest expense incurred to earn royalties and other investment income, see Education Savings Bond Program in chapter 1 of Publication 550. Where to file a 2011 tax return Recordkeeping. Where to file a 2011 tax return If you claim the interest exclusion, you must keep a written record of the qualified U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds you redeem. Where to file a 2011 tax return Your record must include the serial number, issue date, face value, and total redemption proceeds (principal and interest) of each bond. Where to file a 2011 tax return You can use Form 8818 to record this information. Where to file a 2011 tax return You should also keep bills, receipts, canceled checks, or other documentation that shows you paid qualified higher educational expenses during the year. Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return Treasury Bills, Notes, and Bonds Treasury bills, notes, and bonds are direct debts (obligations) of the U. Where to file a 2011 tax return S. Where to file a 2011 tax return Government. Where to file a 2011 tax return Taxation of interest. Where to file a 2011 tax return   Interest income from Treasury bills, notes, and bonds is subject to federal income tax but is exempt from all state and local income taxes. Where to file a 2011 tax return You should receive Form 1099-INT showing the interest (in box 3) paid to you for the year. Where to file a 2011 tax return   Payments of principal and interest generally will be credited to your designated checking or savings account by direct deposit through the TreasuryDirect® system. Where to file a 2011 tax return Treasury bills. Where to file a 2011 tax return   These bills generally have a 4-week, 13-week, 26-week, or 52-week maturity period. Where to file a 2011 tax return They are generally issued at a discount in the amount of $100 and multiples of $100. Where to file a 2011 tax return The difference between the discounted price you pay for the bills and the face value you receive at maturity is interest income. Where to file a 2011 tax return Generally, you report this interest income when the bill is paid at maturity. Where to file a 2011 tax return If you paid a premium for a bill (more than the face value), you generally report the premium as a section 171 deduction when the bill is paid at maturity. Where to file a 2011 tax return Treasury notes and bonds. Where to file a 2011 tax return   Treasury notes have maturity periods of more than 1 year, ranging up to 10 years. Where to file a 2011 tax return Maturity periods for Treasury bonds are longer than 10 years. Where to file a 2011 tax return Both generally are issued in denominations of $100 to $1 million and generally pay interest every 6 months. Where to file a 2011 tax return Generally, you report this interest for the year paid. Where to file a 2011 tax return For more information, see U. Where to file a 2011 tax return S. Where to file a 2011 tax return Treasury Bills, Notes, and Bonds in chapter 1 of Publication 550. Where to file a 2011 tax return For other information on Treasury notes or bonds, write to:  Bureau of the Public Debt P. Where to file a 2011 tax return O. Where to file a 2011 tax return Box 7015 Parkersburg, WV 26106-7015 Or, on the Internet, visit: www. Where to file a 2011 tax return treasurydirect. Where to file a 2011 tax return gov/indiv/indiv. Where to file a 2011 tax return htm. Where to file a 2011 tax return For information on series EE, series I, and series HH savings bonds, see U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds , earlier. Where to file a 2011 tax return Treasury inflation-protected securities (TIPS). Where to file a 2011 tax return   These securities pay interest twice a year at a fixed rate, based on a principal amount adjusted to take into account inflation and deflation. Where to file a 2011 tax return For the tax treatment of these securities, see Inflation-Indexed Debt Instruments under Original Issue Discount (OID), in Publication 550. Where to file a 2011 tax return Bonds Sold Between Interest Dates If you sell a bond between interest payment dates, part of the sales price represents interest accrued to the date of sale. Where to file a 2011 tax return You must report that part of the sales price as interest income for the year of sale. Where to file a 2011 tax return If you buy a bond between interest payment dates, part of the purchase price represents interest accrued before the date of purchase. Where to file a 2011 tax return When that interest is paid to you, treat it as a return of your capital investment, rather than interest income, by reducing your basis in the bond. Where to file a 2011 tax return See Accrued interest on bonds under How To Report Interest Income in chapter 1 of Publication 550 for information on reporting the payment. Where to file a 2011 tax return Insurance Life insurance proceeds paid to you as beneficiary of the insured person are usually not taxable. Where to file a 2011 tax return But if you receive the proceeds in installments, you must usually report a part of each installment payment as interest income. Where to file a 2011 tax return For more information about insurance proceeds received in installments, see Publication 525, Taxable and Nontaxable Income. Where to file a 2011 tax return Annuity. Where to file a 2011 tax return   If you buy an annuity with life insurance proceeds, the annuity payments you receive are taxed as pension and annuity income from a nonqualified plan, not as interest income. Where to file a 2011 tax return See chapter 10 for information on pension and annuity income from nonqualified plans. Where to file a 2011 tax return State or Local Government Obligations Interest on a bond used to finance government operations generally is not taxable if the bond is issued by a state, the District of Columbia, a possession of the United States, or any of their political subdivisions. Where to file a 2011 tax return Bonds issued after 1982 (including tribal economic development bonds issued after February 17, 2009) by an Indian tribal government are treated as issued by a state. Where to file a 2011 tax return Interest on these bonds is generally tax exempt if the bonds are part of an issue of which substantially all proceeds are to be used in the exercise of any essential government function. Where to file a 2011 tax return For information on federally guaranteed bonds, mortgage revenue bonds, arbitrage bonds, private activity bonds, qualified tax credit bonds, and Build America bonds, see State or Local Government Obligations in chapter 1 of Publication 550. Where to file a 2011 tax return Information reporting requirement. Where to file a 2011 tax return   If you must file a tax return, you are required to show any tax-exempt interest you received on your return. Where to file a 2011 tax return This is an information reporting requirement only. Where to file a 2011 tax return It does not change tax-exempt interest to taxable interest. Where to file a 2011 tax return Original Issue Discount (OID) Original issue discount (OID) is a form of interest. Where to file a 2011 tax return You generally include OID in your income as it accrues over the term of the debt instrument, whether or not you receive any payments from the issuer. Where to file a 2011 tax return A debt instrument generally has OID when the instrument is issued for a price that is less than its stated redemption price at maturity. Where to file a 2011 tax return OID is the difference between the stated redemption price at maturity and the issue price. Where to file a 2011 tax return All debt instruments that pay no interest before maturity are presumed to be issued at a discount. Where to file a 2011 tax return Zero coupon bonds are one example of these instruments. Where to file a 2011 tax return The OID accrual rules generally do not apply to short-term obligations (those with a fixed maturity date of 1 year or less from date of issue). Where to file a 2011 tax return See Discount on Short-Term Obligations in chapter 1 of Publication 550. Where to file a 2011 tax return De minimis OID. Where to file a 2011 tax return   You can treat the discount as zero if it is less than one-fourth of 1% (. Where to file a 2011 tax return 0025) of the stated redemption price at maturity multiplied by the number of full years from the date of original issue to maturity. Where to file a 2011 tax return This small discount is known as “de minimis” OID. Where to file a 2011 tax return Example 1. Where to file a 2011 tax return You bought a 10-year bond with a stated redemption price at maturity of $1,000, issued at $980 with OID of $20. Where to file a 2011 tax return One-fourth of 1% of $1,000 (stated redemption price) times 10 (the number of full years from the date of original issue to maturity) equals $25. Where to file a 2011 tax return Because the $20 discount is less than $25, the OID is treated as zero. Where to file a 2011 tax return (If you hold the bond at maturity, you will recognize $20 ($1,000 − $980) of capital gain. Where to file a 2011 tax return ) Example 2. Where to file a 2011 tax return The facts are the same as in Example 1, except that the bond was issued at $950. Where to file a 2011 tax return The OID is $50. Where to file a 2011 tax return Because the $50 discount is more than the $25 figured in Example 1, you must include the OID in income as it accrues over the term of the bond. Where to file a 2011 tax return Debt instrument bought after original issue. Where to file a 2011 tax return   If you buy a debt instrument with de minimis OID at a premium, the discount is not includible in income. Where to file a 2011 tax return If you buy a debt instrument with de minimis OID at a discount, the discount is reported under the market discount rules. Where to file a 2011 tax return See Market Discount Bonds in chapter 1 of Publication 550. Where to file a 2011 tax return Exceptions to reporting OID. Where to file a 2011 tax return   The OID rules discussed in this chapter do not apply to the following debt instruments. Where to file a 2011 tax return Tax-exempt obligations. Where to file a 2011 tax return (However, see Stripped tax-exempt obligations under Stripped Bonds and Coupons in chapter 1 of Publication 550). Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds. Where to file a 2011 tax return Short-term debt instruments (those with a fixed maturity date of not more than 1 year from the date of issue). Where to file a 2011 tax return Obligations issued by an individual before March 2, 1984. Where to file a 2011 tax return Loans between individuals if all the following are true. Where to file a 2011 tax return The lender is not in the business of lending money. Where to file a 2011 tax return The amount of the loan, plus the amount of any outstanding prior loans between the same individuals, is $10,000 or less. Where to file a 2011 tax return Avoiding any federal tax is not one of the principal purposes of the loan. Where to file a 2011 tax return Form 1099-OID. Where to file a 2011 tax return   The issuer of the debt instrument (or your broker if you held the instrument through a broker) should give you Form 1099-OID, or a similar statement, if the total OID for the calendar year is $10 or more. Where to file a 2011 tax return Form 1099-OID will show, in box 1, the amount of OID for the part of the year that you held the bond. Where to file a 2011 tax return It also will show, in box 2, the stated interest you must include in your income. Where to file a 2011 tax return A copy of Form 1099-OID will be sent to the IRS. Where to file a 2011 tax return Do not file your copy with your return. Where to file a 2011 tax return Keep it for your records. Where to file a 2011 tax return   In most cases, you must report the entire amount in boxes 1 and 2 of Form 1099-OID as interest income. Where to file a 2011 tax return But see Refiguring OID shown on Form 1099-OID, later in this discussion, for more information. Where to file a 2011 tax return Form 1099-OID not received. Where to file a 2011 tax return   If you had OID for the year but did not receive a Form 1099-OID, you can find tables on IRS. Where to file a 2011 tax return gov that list total OID on certain debt instruments and have information that will help you figure OID. Where to file a 2011 tax return For the latest OID tables, go to www. Where to file a 2011 tax return irs. Where to file a 2011 tax return gov and enter “OID tables” in the Search box. Where to file a 2011 tax return If your debt instrument is not listed, consult the issuer for further information about the accrued OID for the year. Where to file a 2011 tax return Nominee. Where to file a 2011 tax return   If someone else is the holder of record (the registered owner) of an OID instrument belonging to you and receives a Form 1099-OID on your behalf, that person must give you a Form 1099-OID. Where to file a 2011 tax return Refiguring OID shown on Form 1099-OID. Where to file a 2011 tax return   You must refigure the OID shown in box 1 or box 8 of Form 1099-OID if either of the following apply. Where to file a 2011 tax return You bought the debt instrument after its original issue and paid a premium or an acquisition premium. Where to file a 2011 tax return The debt instrument is a stripped bond or a stripped coupon (including certain zero coupon instruments). Where to file a 2011 tax return For information about figuring the correct amount of OID to include in your income, see Figuring OID on Long-Term Debt Instruments in Publication 1212. Where to file a 2011 tax return Refiguring periodic interest shown on Form 1099-OID. Where to file a 2011 tax return   If you disposed of a debt instrument or acquired it from another holder during the year, see Bonds Sold Between Interest Dates , earlier, for information about the treatment of periodic interest that may be shown in box 2 of Form 1099-OID for that instrument. Where to file a 2011 tax return Certificates of deposit (CDs). Where to file a 2011 tax return   If you buy a CD with a maturity of more than 1 year, you must include in income each year a part of the total interest due and report it in the same manner as other OID. Where to file a 2011 tax return   This also applies to similar deposit arrangements with banks, building and loan associations, etc. Where to file a 2011 tax return , including: Time deposits, Bonus plans, Savings certificates, Deferred income certificates, Bonus savings certificates, and Growth savings certificates. Where to file a 2011 tax return Bearer CDs. Where to file a 2011 tax return   CDs issued after 1982 generally must be in registered form. Where to file a 2011 tax return Bearer CDs are CDs not in registered form. Where to file a 2011 tax return They are not issued in the depositor's name and are transferable from one individual to another. Where to file a 2011 tax return   Banks must provide the IRS and the person redeeming a bearer CD with a Form 1099-INT. Where to file a 2011 tax return More information. Where to file a 2011 tax return   See chapter 1 of Publication 550 for more information about OID and related topics, such as market discount bonds. Where to file a 2011 tax return When To Report Interest Income When to report your interest income depends on whether you use the cash method or an accrual method to report income. Where to file a 2011 tax return Cash method. Where to file a 2011 tax return   Most individual taxpayers use the cash method. Where to file a 2011 tax return If you use this method, you generally report your interest income in the year in which you actually or constructively receive it. Where to file a 2011 tax return However, there are special rules for reporting the discount on certain debt instruments. Where to file a 2011 tax return See U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds and Original Issue Discount (OID) , earlier. Where to file a 2011 tax return Example. Where to file a 2011 tax return On September 1, 2011, you loaned another individual $2,000 at 12%, compounded annually. Where to file a 2011 tax return You are not in the business of lending money. Where to file a 2011 tax return The note stated that principal and interest would be due on August 31, 2013. Where to file a 2011 tax return In 2013, you received $2,508. Where to file a 2011 tax return 80 ($2,000 principal and $508. Where to file a 2011 tax return 80 interest). Where to file a 2011 tax return If you use the cash method, you must include in income on your 2013 return the $508. Where to file a 2011 tax return 80 interest you received in that year. Where to file a 2011 tax return Constructive receipt. Where to file a 2011 tax return   You constructively receive income when it is credited to your account or made available to you. Where to file a 2011 tax return You do not need to have physical possession of it. Where to file a 2011 tax return For example, you are considered to receive interest, dividends, or other earnings on any deposit or account in a bank, savings and loan, or similar financial institution, or interest on life insurance policy dividends left to accumulate, when they are credited to your account and subject to your withdrawal. Where to file a 2011 tax return This is true even if they are not yet entered in your passbook. Where to file a 2011 tax return   You constructively receive income on the deposit or account even if you must: Make withdrawals in multiples of even amounts, Give a notice to withdraw before making the withdrawal, Withdraw all or part of the account to withdraw the earnings, or Pay a penalty on early withdrawals, unless the interest you are to receive on an early withdrawal or redemption is substantially less than the interest payable at maturity. Where to file a 2011 tax return Accrual method. Where to file a 2011 tax return   If you use an accrual method, you report your interest income when you earn it, whether or not you have received it. Where to file a 2011 tax return Interest is earned over the term of the debt instrument. Where to file a 2011 tax return Example. Where to file a 2011 tax return If, in the previous example, you use an accrual method, you must include the interest in your income as you earn it. Where to file a 2011 tax return You would report the interest as follows: 2011, $80; 2012, $249. Where to file a 2011 tax return 60; and 2013, $179. Where to file a 2011 tax return 20. Where to file a 2011 tax return Coupon bonds. Where to file a 2011 tax return   Interest on coupon bonds is taxable in the year the coupon becomes due and payable. Where to file a 2011 tax return It does not matter when you mail the coupon for payment. Where to file a 2011 tax return How To Report Interest Income Generally, you report all your taxable interest income on Form 1040, line 8a; Form 1040A, line 8a; or Form 1040EZ, line 2. Where to file a 2011 tax return You cannot use Form 1040EZ if your taxable interest income is more than $1,500. Where to file a 2011 tax return Instead, you must use Form 1040A or Form 1040. Where to file a 2011 tax return Form 1040A. Where to file a 2011 tax return   You must complete Schedule B (Form 1040A or 1040), Part I, if you file Form 1040A and any of the following are true. Where to file a 2011 tax return Your taxable interest income is more than $1,500. Where to file a 2011 tax return You are claiming the interest exclusion under the Education Savings Bond Program (discussed earlier). Where to file a 2011 tax return You received interest from a seller-financed mortgage, and the buyer used the property as a home. Where to file a 2011 tax return You received a Form 1099-INT for U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest that includes amounts you reported before 2013. Where to file a 2011 tax return You received, as a nominee, interest that actually belongs to someone else. Where to file a 2011 tax return You received a Form 1099-INT for interest on frozen deposits. Where to file a 2011 tax return You are reporting OID in an amount less than the amount shown on Form 1099-OID. Where to file a 2011 tax return You received a Form 1099-INT for interest on a bond you bought between interest payment dates. Where to file a 2011 tax return You acquired taxable bonds after 1987 and choose to reduce interest income from the bonds by any amortizable bond premium (see Bond Premium Amortization in chapter 3 of Publication 550). Where to file a 2011 tax return List each payer's name and the amount of interest income received from each payer on line 1. Where to file a 2011 tax return If you received a Form 1099-INT or Form 1099-OID from a brokerage firm, list the brokerage firm as the payer. Where to file a 2011 tax return   You cannot use Form 1040A if you must use Form 1040, as described next. Where to file a 2011 tax return Form 1040. Where to file a 2011 tax return   You must use Form 1040 instead of Form 1040A or Form 1040EZ if: You forfeited interest income because of the early withdrawal of a time deposit; You acquired taxable bonds after 1987, you choose to reduce interest income from the bonds by any amortizable bond premium, and you are deducting the excess of bond premium amortization for the accrual period over the qualified stated interest for the period (see Bond Premium Amortization in chapter 3 of Publication 550); or You received tax-exempt interest from private activity bonds issued after August 7, 1986. Where to file a 2011 tax return Schedule B (Form 1040A or 1040). Where to file a 2011 tax return   You must complete Schedule B (Form 1040A or 1040), Part I, if you file Form 1040 and any of the following apply. Where to file a 2011 tax return Your taxable interest income is more than $1,500. Where to file a 2011 tax return You are claiming the interest exclusion under the Education Savings Bond Program (discussed earlier). Where to file a 2011 tax return You received interest from a seller-financed mortgage, and the buyer used the property as a home. Where to file a 2011 tax return You received a Form 1099-INT for U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest that includes amounts you reported before 2013. Where to file a 2011 tax return You received, as a nominee, interest that actually belongs to someone else. Where to file a 2011 tax return You received a Form 1099-INT for interest on frozen deposits. Where to file a 2011 tax return You received a Form 1099-INT for interest on a bond you bought between interest payment dates. Where to file a 2011 tax return You are reporting OID in an amount less than the amount shown on Form 1099-OID. Where to file a 2011 tax return Statement (2) in the preceding list under Form 1040 is true. Where to file a 2011 tax return In Part I, line 1, list each payer's name and the amount received from each. Where to file a 2011 tax return If you received a Form 1099-INT or Form 1099-OID from a brokerage firm, list the brokerage firm as the payer. Where to file a 2011 tax return Reporting tax-exempt interest. Where to file a 2011 tax return   Total your tax-exempt interest (such as interest or accrued OID on certain state and municipal bonds, including tax-exempt interest on zero coupon municipal bonds) and exempt-interest dividends from a mutual fund as shown on Form 1099-INT, box 8, and on Form 1099-DIV, box 10. Where to file a 2011 tax return Add these amounts to any other tax-exempt interest you received. Where to file a 2011 tax return Report the total on line 8b of Form 1040A or 1040. Where to file a 2011 tax return   If you file Form 1040EZ, enter “TEI” and the amount in the space to the left of line 2. Where to file a 2011 tax return Do not add tax-exempt interest in the total on Form 1040EZ, line 2. Where to file a 2011 tax return   Form 1099-INT, box 9, and Form 1099-DIV, box 11, show the tax-exempt interest subject to the alternative minimum tax on Form 6251. Where to file a 2011 tax return These amounts are already included in the amounts on Form 1099-INT, box 8, and Form 1099-DIV, box 10. Where to file a 2011 tax return Do not add the amounts in Form 1099-INT, box 9 and Form 1099-DIV, box 11 to, or subtract them from, the amounts on Form 1099-INT, box 8, and Form 1099-DIV, box 10. Where to file a 2011 tax return    Do not report interest from an individual retirement account (IRA) as tax-exempt interest. Where to file a 2011 tax return Form 1099-INT. Where to file a 2011 tax return   Your taxable interest income, except for interest from U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds and Treasury obligations, is shown in box 1 of Form 1099-INT. Where to file a 2011 tax return Add this amount to any other taxable interest income you received. Where to file a 2011 tax return You must report all of your taxable interest income even if you do not receive a Form 1099-INT. Where to file a 2011 tax return Generally, contact your financial institution if you do not receive a Form 1099-INT by February 15. Where to file a 2011 tax return Your identifying number may be truncated on any paper Form 1099-INT you receive. Where to file a 2011 tax return   If you forfeited interest income because of the early withdrawal of a time deposit, the deductible amount will be shown on Form 1099-INT in box 2. Where to file a 2011 tax return See Penalty on early withdrawal of savings in chapter 1 of Publication 550. Where to file a 2011 tax return   Box 3 of Form 1099-INT shows the interest income you received from U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds, Treasury bills, Treasury notes, and Treasury bonds. Where to file a 2011 tax return Add the amount shown in box 3 to any other taxable interest income you received, unless part of the amount in box 3 was previously included in your interest income. Where to file a 2011 tax return If part of the amount shown in box 3 was previously included in your interest income, see U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest previously reported , later. Where to file a 2011 tax return   Box 4 of Form 1099-INT will contain an amount if you were subject to backup withholding. Where to file a 2011 tax return Report the amount from box 4 on Form 1040EZ, line 7; on Form 1040A, line 36; or Form 1040, line 62 (federal income tax withheld). Where to file a 2011 tax return   Box 5 of Form 1099-INT shows investment expenses you may be able to deduct as an itemized deduction. Where to file a 2011 tax return See chapter 28 for more information about investment expenses. Where to file a 2011 tax return   If there are entries in boxes 6 and 7 of Form 1099-INT, you must file Form 1040. Where to file a 2011 tax return You may be able to take a credit for the amount shown in box 6 unless you deduct this amount on line 8 of Schedule A (Form 1040). Where to file a 2011 tax return To take the credit, you may have to file Form 1116, Foreign Tax Credit. Where to file a 2011 tax return For more information, see Publication 514, Foreign Tax Credit for Individuals. Where to file a 2011 tax return U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest previously reported. Where to file a 2011 tax return   If you received a Form 1099-INT for U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bond interest, the form may show interest you do not have to report. Where to file a 2011 tax return See Form 1099-INT for U. Where to file a 2011 tax return S. Where to file a 2011 tax return savings bonds interest , earlier, under U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bonds. Where to file a 2011 tax return   On Schedule B (Form 1040A or 1040), Part I, line 1, report all the interest shown on your Form 1099-INT. Where to file a 2011 tax return Then follow these steps. Where to file a 2011 tax return Several lines above line 2, enter a subtotal of all interest listed on line 1. Where to file a 2011 tax return Below the subtotal enter “U. Where to file a 2011 tax return S. Where to file a 2011 tax return Savings Bond Interest Previously Reported” and enter amounts previously reported or interest accrued before you received the bond. Where to file a 2011 tax return Subtract these amounts from the subtotal and enter the result on line 2. Where to file a 2011 tax return More information. Where to file a 2011 tax return   For more information about how to report interest income, see chapter 1 of Publication 550 or the instructions for the form you must file. Where to file a 2011 tax return Prev  Up  Next   Home   More Online Publications