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2004 Tax Year

4.2 1099–INT Interest Income

This is archived information that pertains only to the 2004 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

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 Tax Topic 403, Interest Received, for additional information on interest income Form 1040, Schedule B (PDF). For additional information on installment sales, refer to Tax Topic 705, or Publication 537, Installment Sales.


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