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How can I get interest income on line 1 of 1041, if I don't have 1099s?
Our accountant passed away and always put the trust's interest income from privately held notes on Line 1. This is the first time we are using Turbo Tax Business for this and it only asks for 1099 interest income. I want to be consistent with previous returns and put it on Line 1. How do I do this?
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How can I get interest income on line 1 of 1041, if I don't have 1099s?
"How can I get interest income on line 1 of 1041, if I don't have 1099s?"
The figure you enter on Line 1 of the Form 1099-INT Worksheet will wind up on Line 1 of your 1041 (see screenshot).
It is actually irrelevant how the interest is entered since the 1099 in the program is strictly for your records only; it does not get transmitted with your return.
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How can I get interest income on line 1 of 1041, if I don't have 1099s?
"How can I get interest income on line 1 of 1041, if I don't have 1099s?"
The figure you enter on Line 1 of the Form 1099-INT Worksheet will wind up on Line 1 of your 1041 (see screenshot).
It is actually irrelevant how the interest is entered since the 1099 in the program is strictly for your records only; it does not get transmitted with your return.
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