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Re: Security Depost 1099-INT and bank statement
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Home away from home
 
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The BANK holding the deposit is required to send 1099-INT statements to owners of the escrow accounts.
I'm not aware of the $10 limit but it seems reasonable to cut paperwork costs although I get one each year for preposterously small amounts based on a quarter percent interest.
Posted on: 2010/4/6 18:30
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Re: Security Depost 1099-INT and bank statement
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Home away from home
Joined:
2005/3/21 20:01 Last Login : 2020/9/5 14:18 From Exchange Place
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I did not receive a 1099 INT from two banks this year. I called them, and they said that it was because the interest was less than $10. The 1099 INT is issued only when the interest is $10 or more.
http://www.irs.gov/pub/irs-pdf/i1099int.pdf
Posted on: 2010/4/6 3:00
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Re: Security Depost 1099-INT and bank statement
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Home away from home
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itsauora: Was the owner of your apts? facing foreclosure action?
Just want to make sure the money is where it's supposed to be.
Posted on: 2010/4/6 2:24
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Re: Security Depost 1099-INT and bank statement
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Home away from home
Joined:
2006/4/18 0:04 Last Login : 2021/10/2 19:00 From Jersey Cxxx
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Quote:
This LINK and this LINK will answer all of your questions.
Posted on: 2010/4/5 21:18
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Re: Security Depost 1099-INT and bank statement
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Home away from home
Joined:
2006/12/5 15:53 Last Login : 2012/9/30 0:28 From Belmont Ave.
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I've lived in a number of apartments and I've never recieved a 1099 or bank statement for my security deposit.
Posted on: 2010/4/5 21:16
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Security Depost 1099-INT and bank statement
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Home away from home
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Does a landlord and or management company have to send a 1099-int form to their tenants each year regarding security deposit monies? Other places I have lived at have done so, for tax filing purposes and for the tenants records.
I did not get mine for my place I rent here in JC. Also, what about a statement from the bank itself? Do they need to send those out to the tenants for their records? Are JC owners and Landlords exempt from doing this? I think they need to send it but not certain. I know that there must be landlords and or owners of rental properties on here that know! Thanks!
Posted on: 2010/4/5 20:39
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