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@BobKamman wrote:

Actually, this is what the IRS instructions for 1099-INT say:

Report only interest payments made in the course of your
trade or business including federal, state, and local government
agencies and activities deemed nonprofit, or for which you were
a nominee/middleman.  [Emphasis updated]

https://www.irs.gov/pub/irs-pdf/i1099int.pdf 

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