1099-INT Interest Income (2004 IRS FAQ)

From TaxAlmanac

IRS FAQ 4.2 Interest/Dividends/Other Types of Income: 1099-INT Interest Income

How do I report interest received on an installment sale?

If you receive interest on an installment sale, report the entire amount on line 8a of Form 1040 (PDF) or Form 1040A (PDF), or line 2 of Form 1040EZ (PDF). If your taxable interest income is more than $1,500, be sure to show that income on Schedule B of Form 1040, or on Schedule 1 of Form 1040A. You cannot file Form 1040EZ if your interest income is more than $1,500. Refer to Interest Received, Interest Received, for additional information on interest income Form 1040, Schedule B (PDF). For additional information on installment sales, refer to Installment Sales, or Publication 537, Installment Sales.

• Publication 537, Installment Sales
• Form 1040, Schedule B (PDF). Interest and Dividend Income
• Installment Sales, Installment sales
• Form 1040 (PDF), U.S. Individual Income Tax Return
• Form 1040A (PDF), U.S. Individual Income Tax Returnn
• Form 1040EZ (PDF), U.S. Individual Income Tax Return for Single and Joint Filers with No Dependents
• Interest Received, Interest Received

Source: IRS.gov