How to get your IRS 1099-INT form from MyConstant
For US residents, your tax deadline (April 15th) is just around the corner. And if you’re earning money on MyConstant, it’s important that you submit a 1099-INT form.
This form is located on your Account page and is automatically filled out by our financial team if you’ve earned more than $10 of interest though our platform last year.
*Please note that the 1099-INT form is not accessible on the MyConstant app. And if you earned less than $10 of interest last year, the form will not appear on your account.
What is a 1099-INT form?
Unlike a W-2 tax form that’s submitted by your employer, a 1099 form is a record of capital gains that a company or person gave or paid you during the year. This type of income is often from non-employment-related sources.
As of 2021, there are nearly 20 different variants of 1099 forms, with MyConstant using the 1099-INT.
The 1099-INT is a form you must submit if you’ve earned more than $10 in interest from a bank, brokerage or other financial institution. You must include these earnings in your tax filing.
Reporting all of your earnings to the IRS will help avoid any audits in the future.
Where to find the form on your MyConstant account
Simply sign onto your account and click on the profile icon in the upper right corner. Once there, click Account details.
You’ll then see this graph of your account (with different numbers of course). On this page, simply click on the Download 2020 1099-INT in the upper right corner.
Once the form has downloaded, you’ll see that the information is filled out for you. Just print the form and include it in your taxes (or send it to your tax accountant).
Keep in mind, receiving a 1099-INT form doesn’t necessarily mean you owe taxes on that money — everyones tax circumstances are different. In any case, remember: the IRS legally requires you to submit this form.
If you have any questions about locating the 1099-INT form, don’t hesitate to contact our customer service team at [email protected].
All tax questions should be directed to your financial or tax advisor. MyConstant does not provide tax, financial, or legal advice and this information is not intended to be tax, financial, or legal advice. MyConstant recommends that you consult your financial or tax advisor if you have any questions.
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