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pandebank
New Member

How to report intrest income from the irs

 
1 Best answer

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PeterM
New Member

How to report intrest income from the irs

That depends on if it is included in box 1 (regular interest payment) or box 3 (US treasury Interest) on the 1099-INT Form.

If the amount is included in box 1, then just include the interest income as you would id it had come from anybody else such as SmithBarney, Edward Jones, Bank of America, etc...

If the amount is included in box 3, then you start the process to enter the information as you would for ordinary interest income, however...you must check the box that states "My form has info in more than just box 1 (this is uncommon)." This will bring up several other boxes (all numbered to match the 1099-INT). Then you simply enter the income into Box 3 in Turbo Tax. Finally, continue to follow the on-screen prompts about your particular situation.

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4 Replies
PeterM
New Member

How to report intrest income from the irs

That depends on if it is included in box 1 (regular interest payment) or box 3 (US treasury Interest) on the 1099-INT Form.

If the amount is included in box 1, then just include the interest income as you would id it had come from anybody else such as SmithBarney, Edward Jones, Bank of America, etc...

If the amount is included in box 3, then you start the process to enter the information as you would for ordinary interest income, however...you must check the box that states "My form has info in more than just box 1 (this is uncommon)." This will bring up several other boxes (all numbered to match the 1099-INT). Then you simply enter the income into Box 3 in Turbo Tax. Finally, continue to follow the on-screen prompts about your particular situation.

jarvis89
New Member

How to report intrest income from the irs

the letter says I received a credit there are no boxes

jarvis89
New Member

How to report intrest income from the irs

what do I do?

VolvoGirl
Level 15

How to report intrest income from the irs

Who is it from?  What's it for?  Is it the 1444 B letter?  That's just confirming they sent you the second round Stimulus payment.  I got one yesterday.

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