Here’s a breakdown of how tax reporting will work if you have multiple Capital One Bank accounts for which you’re the primary account holder:
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Payments of interest: If the combined total interest paid to all your accounts is $10 or more during the current tax year, you will receive a 1099-INT for the interest paid to your Capital One 360 bank accounts, and a separate form for the interest paid to any other Capital One accounts.
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Payments of miscellaneous income: If the combined total of miscellaneous income paid to your accounts is $600 or more, you will receive a 1099-MISC form for this income from your Capital One 360 bank accounts, and a separate form for the miscellaneous income from any other Capital One accounts.
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Trust conversion: If you converted a Capital One 360 bank account into a Capital One 360 Trust account anytime during the current tax year, you may receive two separate 1099-INT forms for the converted account(s) if the Tax Identification Number was also changed as part of the conversion.