I just received my 1099-INT in the mail but I’ve already filled my taxes. Do I need to report it and if so is there a way to report it after I’ve already filed my taxes?

[AnthonyJ · Accepted solution]

Yes.  Any interest reported to you on a 1099-INT will have to be reported.  However, because you have already submitted your return, you will have to wait for the return to be either rejected or accepted by the IRS before you can determine what steps to take next.

A rejected return will allow you enter your 1099-INT and after making other needed corrections you may resubmit your return.

However, if your return was accepted, you MUST file an amendment (1040X available 02.01.2018) to properly report your 1099-INT.  (You will have to wait for the original return to be completely processed before filing your amendment.)

How To Amend A Return

Once you have started the amendment process, follow the instructions provided.  

In order to point you in the right direction to properly enter your 1099-INT you may follow these steps:

• Select the Federal Taxes tab
• Select Wages and Income
• Click on Interest and Dividends to see all available options
• And, select Interest on a 1099-INT