Taxable interest is primarily reported on which form?

Taxable interest is primarily reported on Form 1099-INT. This form is specifically used by financial institutions to report interest payments made to taxpayers during the year. When an individual earns interest income—such as from a savings account, certificate of deposit, or other interest-bearing accounts—the paying institution reports this to both the taxpayer and the IRS using Form 1099-INT.

Taxpayers then use this reported information when preparing their annual tax returns, typically including the interest income on their Form 1040. This ensures accurate reporting of income, allows for proper tax calculation, and fulfills the taxpayer's obligations. The other forms mentioned serve different purposes; for instance, Form W-2 is designated for reporting wages and salaries, while Form 1099-MISC is used for various types of income not reported elsewhere, including certain payments made to independent contractors.