Today I submitted my 1040 e-file return for 2023. The Federal 1040 output report generated inTurboTax is showing an "other adjustment" in Part 1 of Interest & Ordinary dividends. This amount is a <negative> $$ amount that reduced the proper interest income I had already input for the Marcus Bank paying entity. Their combined 1099-INT form had multiple accounts held for the year (CD's mostly and a savings account.) When I tried to originally "import" the data by logging into Marcus - it ony pulled thru the 1099m interest for page 1 of the document. I then had to delete that entry and manually add the data total. I now expect the IRS is going to ask why I made a negative adjustment??
You'll need to sign in or create an account to connect with an expert.
If you manually corrected/entered all 1099-INTs with positive amount,
there will not be a negative adjustment on Schedule B
Fanfare - IKR!! You cant make this stuff up...the last line item on Schedule B Int & Divs shows an entry I never made called "Other Adjustments" - and in this case its for a negative amount of <$1001>?? Even the online TT folks can't undertand because it looks entirely like a TT software issue.
Thanks for trying though. We'll just wait until we see what if anything IRS picks up and then make some kind of manual amended return correction. Joy!!!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
DBinSC
New Member
hannahh620
New Member
nasha73
New Member
SandyOH
Level 3
asalot
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.