WORD OF THE DAY: EXCESS SPREAD - A term used in asset backed securities to describe the amount by which the yield from the loan collateral, net of charge-offs, exceeds the sum of the servicing fee and the interest paid to holders of ... More
Glossary Term: INTEREST INCOME STATEMENT (1099INT)
Definition(s) for INTEREST INCOME STATEMENT (1099INT):
1. ) A paper information return showing the amount of reportable interest paid to a taxpayer Typically, the return shows the total amount of such interest paid to that taxpayer in a year This return has to be mailed to the taxpayer no later than the end of January following the tax year in which the payment of interest to the taxpayer occurred The statement may include interest on accrual (EE/I/E) or current income (HH/H) savings bonds
Fund Letters
