Interest on US obligations is reported on Form 1099-INT in the year the Treasury bill or note matures or you sell it, which may not be the year it was purchased. Refer to IRS Publication 550, Investment Income and Expenses, and consult your tax advisor for more information on reporting interest on US government obligations.
In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer.