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New Member
posted Jun 4, 2019 2:16:01 PM

How do I enter tax exempt interest?

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1 Best answer
New Member
Jun 4, 2019 2:16:03 PM

To enter your tax exempt interest in TurboTax you need to go to the section to enter your 1099-INT by following the directions below.

  • Select Federal Taxes (Personal if using TurboTax Self-Employed or Home and Business)
  • Select Wages & Income (I'll choose what i work on)
  • You may need to click on Skip to see all income
  • Scroll down to Interest and Dividends
  • Click on Show more and then Interest on 1099-INT
  • Start or Update

Then when you enter your 1099-INT into TurboTax, under the field that you input your interest income there is a box you can check that says  "My form has info in more than just box 1 (this is uncommon)."  When you check this box, more boxes from the 1099-INT will appear, including Tax Exempt Interest.


3 Replies
New Member
Jun 4, 2019 2:16:03 PM

To enter your tax exempt interest in TurboTax you need to go to the section to enter your 1099-INT by following the directions below.

  • Select Federal Taxes (Personal if using TurboTax Self-Employed or Home and Business)
  • Select Wages & Income (I'll choose what i work on)
  • You may need to click on Skip to see all income
  • Scroll down to Interest and Dividends
  • Click on Show more and then Interest on 1099-INT
  • Start or Update

Then when you enter your 1099-INT into TurboTax, under the field that you input your interest income there is a box you can check that says  "My form has info in more than just box 1 (this is uncommon)."  When you check this box, more boxes from the 1099-INT will appear, including Tax Exempt Interest.


Returning Member
Feb 24, 2021 11:12:25 AM

Where would the customer enter if there is no 1099-INT form?

 

Level 9
Feb 26, 2021 10:27:31 AM

If you didn't receive a form 1099-INT, you should still enter the information into TurboTax as though you had.  Enter the payer name and add the interest that you received in Box 1.  TurboTax will handle the rest.

@PriscillaHaley