[jww]

I belong to Masonic fraternity and as an officer I rec’d a 1099 from a local bank for interest paid on some savings held in that bank. Amt is $1,544.xx.
No other income for the year AFAIK.
FATCA box on 1099 is not checked.
Pretty sure no action is required on my part......... can someone please advise.

Thanks in advance

[Chris65LeMans]

The 1099 is probably issued under the club’s tax ID #. (If it isn’t, and it’s issued under yours, you need to straighten that out with the bank.)

If it is to the lodge- you do need to do something with it: give it to the treasurer so he can use it filing the organization’s tax return. (An information form for a nonprofit.)

[jww]

Thanks, Chris
The 1099 is issued to the organization and not me personally so no problem there.
I will check with The Grand Lodge of Ohio but I pretty sure subordinate lodges are non profits and tax exempt.

Thanks for your time and input.

[Chris65LeMans]

Originally Posted by jww

Thanks, Chris
The 1099 is issued to the organization and not me personally so no problem there.
I will check with The Grand Lodge of Ohio but I pretty sure subordinate lodges are non profits and tax exempt.

Thanks for your time and input.

Even if you’re tax exempt, you’ll need to file a form 990 (I think) statement of info every year.

[jww]

Thank you, Chris.......I’ll follow up on the statement of info...
Have a great Sunday