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??
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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!!!
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