Do I have to report the income exactly as it appears on the Form 1099-INT?

Receiving a Form 1099-INT reporting a particular amount of interest income does not necessarily require the recipient to report the exact amount shown on the form. However, the IRS will have received the same information, so each investor must be prepared to support and document the reasons for recognizing an amount of interest income different than what was reported on Forms 1099-INT. Each investor’s circumstances may require the reporting of tax information differently. All questions regarding how to use the Form 1099-INT information should be addressed to your personal tax advisor.

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