How to access your Apple Card transactions for tax reasons

Maria Diaz/ZDNET

With the April 15 tax deadline hot on our heels, it’s time for all honest and upright US citizens to prepare and submit their taxes. I’d been busy collecting all my tax forms and documents showing my income, expenses, and other items. In most cases, that’s not too difficult since banks, investment firms, and other organizations either send the right documents or provide links to download them.

Also: The best tax software for a stress-free tax season

But what about an electronic payment system like an Apple Card? I’ve set up an Apple Card Savings Account that pays me interest, which must be reported. As someone who’s self-employed, I use my Apple Card to purchase business-related items for which I need a record to deduct them from my taxes. Apple is supposed to send out a 1099 form for any savings account that earns more than $10 for the year. But gathering deductible expenses is something you have to do yourself.

If you use an Apple Card to earn interest on the savings account or pay for items that are tax deductible, how do you get a record of your transactions? First, let’s go through the details of what is taxable and what is deductible.

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With an Apple Card Savings Account, any interest you earned in 2023 greater than $10 has to be reported to the IRS. This situation is different to the Apple Card Daily Cash, which is a cashback reward for using your Apple Card, and is not considered taxable income and doesn’t have to be reported.

Items that you pay for with your Apple Card are deductible under the normal guidelines used by the IRS. Business expenses, medical expenses, charitable donations, and educational expenses are some items you can deduct from your taxes, depending on the amount and other factors.

How to check your Apple Pay Savings Account

Apple should have sent you a 1099-INT form if the interest on your Apple Pay Savings Account was higher than $10 last year. But if you didn’t receive the form or can’t locate it, you have a couple of options. You can call 1-877-255-5923 to get a paper document sent to you. More quickly, you’ll find what you need in the Wallet app.

Open the Wallet app on your iPhone and select your Apple Card. Select Savings Account, tap the More icon (the one with the three dots in a circle) in the upper right, and select Documents. At the next screen, select Tax Documents. Tap the form for the correct tax year to display it.