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posted Feb 22, 2025 10:13:04 AM

IRS letter said interest was credited. How do I report the credit?

I have a letter stating IRS paid interest.
I know how to report a new INTEREST item under income.
But how do I claim the CREDIT?

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1 Replies
Level 15
Feb 22, 2025 10:17:58 AM

there is no credit. "credited" simply means you got it either separately or it was included in your refund. to enter it in Turbotax you use form 1099-INT. for payee - either IRS or US treasury. This goes on line 1 on the 1099. it is not US interest that is exempt from state taxes.