Skip to main content
January 13, 2025
Question

1099-INT has combined personal interest and interest for trust fund

  • January 13, 2025
  • 1 reply
  • 0 views

I have a trust fund at my credit union that I'm a trustee. The 1099-INT has interest from my personal account and from the trust account. It does show the line interest separately. Should I have received separate 1099-INT statements for each; one for my SSN and one for the trust EIN?

1 reply

VolvoGirl
Employee
January 13, 2025

Yes the Trust should be set  up at the Credit Union as a separate account and not listed in your personal accounts.  Didn't you set up a new account for it originally?  Better check with the CU.  

mbsullynjAuthor
January 13, 2025

Yes it's a separate account and the 1099-INT shows line items on the bottom separate from the boxes. I'll ask the CU what's going on.