Skip to main content
October 29, 2019
Question

Can I claim the standard deduction if I receive 1099-INT income?

  • October 29, 2019
  • 1 reply
  • 0 views

Can I claim the standard deduction if I receive 1099-INT income? I am expecting to receive a 1099-INT income form if I signup for a bank account that has a signup bonus. If I do that can I still claim the standard deduction or will I have to itemize if I receive a 1099-INT?

    1 reply

    VolvoGirl
    Employee
    October 29, 2019

    You can take the Standard Deduction no matter what kind of income you get.  Everyone gets a Standard Deduction unless their Itemized Deductions are more.  Nothing to do with kind of income or amount of income.