The short answer
| What it reports | Interest income; market discount subject to an election under section 1278(b). Tax-exempt interest and U.S. Savings Bonds and Treasury obligations interest are also reported on this form. |
|---|---|
| Amounts to report | $10 or more ($600 or more in some cases) |
| To the recipient | January 31 |
| To the IRS, on paper | February 28 |
| To the IRS, electronically | March 31 |
If one arrives
Reported on Schedule B when the total passes the filing threshold for that schedule, otherwise directly on Form 1040. Tax-exempt interest still appears on the form.
The form is how a payer tells the IRS what it paid. Its absence is not permission — income you received is reportable whether or not a form covers it, and a threshold decides only who must file, never what you owe.
This page is for educational purposes only and does not constitute tax, legal, or financial advice. It covers United States federal reporting. Consult a qualified tax professional about your situation.