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Thread: 1099-INT Release Date?

  1. Senior Member
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    #1

    1099-INT Release Date?

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    Anyone know when MyPay will be releasing/sending out 1099INTs?

    DH's MyPay says it cant find one for him even though we should have one from the SDP. So either they haven't been released or they screwed up DH's stuff (neither would surprise me).

    Has anyone else received theirs?
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    #2
    According to the calendar i have they should have been released yesterday.
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    Quote Originally Posted by maegan View Post
    According to the calendar i have they should have been released yesterday.
    ugh looks like they screwed our stuff up then! I guess I shouldn't be surprised by that...it is the military after all!
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    #4
    why would mypay have a 1099-INT? That's the form from a banking institution stating what you've 'earned'. Military doesn't issue 1099s, unless you mean a W-2. Or, unless I've missed a memo somewhere.

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    #5
    They have until the 31st to release them.
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    #6
    Quote Originally Posted by TrishAFSpouse View Post
    why would mypay have a 1099-INT? That's the form from a banking institution stating what you've 'earned'. Military doesn't issue 1099s, unless you mean a W-2. Or, unless I've missed a memo somewhere.
    1099-INT is for any interested earned over $10. We deposited $10K in the Savings Deposit Program (SDP) with the military while DH was deployed and earned 10% interest off of that (which is more than $10 of interest). MyPay has a link for where our SDP 1099-INT should be but there wasn't one available.

    But I called and talked to someone today and they said that although we earned the interest in 2012, the interest is not actually taxable until we withdraw the money. And since we will withdraw it in 2013 we will receive the 1099-INT next year for taxes.

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