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Returning Member
posted Apr 7, 2024 12:37:35 PM

I received an IRS tax refund for 2021 in 2023 (CP24), plus interest (CP21B). Where do I report this in Turbo Tax Premier?

0 6 1671
6 Replies
Level 15
Apr 7, 2024 12:38:59 PM

Enter interest from the IRS like a 1099Int and put the amount in box 1. Enter it manually and just enter IRS for the payer. Don't enter any other info like the address or a EIN. On the Let Us Enter Your 1099 page go down to the bottom and pick Enter a different way


Federal
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button

Put the interest amount in box 1

Returning Member
Apr 8, 2024 7:02:03 AM

Thanks, but most of the money  isn't interest, it's labeled as a refund.

Level 15
Apr 8, 2024 7:58:19 AM

You just report the interest, not the refund part.  

Returning Member
Apr 8, 2024 10:54:39 AM

Thanks, but most of the money isn't interest, it's labeled as a refund. So, it should be a Federal Refund or, perhaps, Other Income, but TT doesn't include a Federal Refund as an example of Other Income.

Returning Member
Apr 8, 2024 10:55:42 AM

Ah, that is very helpful. Thanks!

Level 15
Apr 8, 2024 10:57:48 AM

I'm not sure why you are stuck.  Do you know how much is the interest?  Just enter the interest part.  You do not enter a federal refund anywhere.  Interest goes under Interest like bank interest.