Can you help me? I received a letter from the IRS stating "total interest paid or credited" do I need to file this? And if so, how? Thank you!

[DianeW · Accepted solution]

Yes.  This is interest the IRS paid you on the refund that was paid to you late. Include this with other interest income on your tax return under Form 1099-INT.

• Select Federal in the black navigation panel on the left
• In the search box type 1099int > jump to 1099int
• Continue to enter your interest income even if you don't have the actual Form 1099-INT.

[slking1983]

DianeW, Thank you so very much!

[DianeW]

@slking1983 You're welcome!

[Medardo320]

What would I put for Payer’s name??

[KarenJ2]

Yes,  this is income to you and you would enter it in TurboTax same as any other 1099-INT would be entered. 

The Payer would be the "IRS"

In the search box in TurboTax enter 1099int and then "Jump to" 1099int to enter the information.

[linnypoo_3080]

Thank you very much!! I thought it was bad news lol I really appreciate it!! 

[mendozaalicia6]

What dose it mean when you get a letter saying total interest paid or credited this is not a bill. 1099-INT? What if I already filled?

[EbonyA]

@mendozaalicia6 the link below provides detailed information surrounding form 1099-INT; if you already filed and subsequently need to report interest paid, you may need to amend your tax return.

Filing Tax Form 1099-INT

[raghavbatra10]

Hi - I had the same problem. There doesn't seem to be an entry for "IRS" when I search in the 1099-INT box.
What should I do now?

[DoninGA]

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@raghavbatra10 wrote:

Hi - I had the same problem. There doesn't seem to be an entry for "IRS" when I search in the 1099-INT box.
What should I do now?

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Enter interest income in the Search box locate in the upper right of the program screen. Click on Jump to interest income

On the screen Did you receive any interest income? Click on Yes

On the next screen click on Continue

On the screen Let's import your tax info Click on Change how I enter my form

On the screen How do you want to add your 1099‑INT? Click on Type it in myself

[raghavbatra10]

Amazing - thanks!

[RL1975]

I need some help ..I received a 1099 int from Irs, I have looked for the 1099 int form online and I see totally different from the one I received, this is like a shorter version and the boxes are not listed. I see the amount of money in a box that says (total interest paid or credited). which box number would this correspond to? to number 1?  Thank You

[VolvoGirl]

Yes.  Enter interest from the IRS like a 1099Int and put the amount in box 1.

Enter a 1099-Int  under

Federal on left

Wages & Income at top

Interest and Dividends

Interest on 1099INT - Click the Start or Revisit button

Put the interest amount in box 1

[ForSure3M]

I believe IRS made a miatake. I paid IRS on August 27,2020 A Chk for $80.00 for the Amount they said  I owed from Tax I owed $9,158.00 to what I paid$9,079.00 previously failure to pay penalty.......0.79 interest charges of 0.21 = Amount Due $80.00