Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between a Form 1099-INT and a Form 1099-R?

April 26, 2017difference form

0

Posted

What is the difference between a Form 1099-INT and a Form 1099-R?

1 Answer

0

Posted

Both forms report income generated by a policy, but they each report a different type of income. The Form 1099-INT is used to report interest credited on certain policy proceeds. The Form 1099-R is used to report designated distributions of a policy’s internal earnings (gain) that were previously untaxed.