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J
jenny-lee635
April 3, 2025
Question

1099 misc from banks

  • April 3, 2025
  • 1 reply
  • 0 views

Hi Tax Community,

This is for individual filing 1040.  I got some 1099-misc from banks.  I didn't see they are 1099-misc.  I saw they are from banks so I entered the misc-other -income as 1099-int.  Those 1099-misc are probably for bonus by opening new account or referral bonus.  Will that be an issue for the IRS? 

    1 reply

    M
    MAK70
    April 3, 2025

    No, if you reported the income as interest it will be added correctly as income but on the wrong line, which is harmless error.  Just keep a copy of the 1099-MISC with your tax records in case they ask (which is highly unlikely).

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