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ss4fam
New Member

Where do I find calculations for IA 1040 Schedule 1 interest info for Turbotax desktop?

 
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5 Replies
AmyC
Expert Alumni

Where do I find calculations for IA 1040 Schedule 1 interest info for Turbotax desktop?

Where the calculations come from can be obtained by a right click on the box and select data source. Sometimes, there is an additional line with more details.

When you click in a box, normal left click, and see a magnifying glass, select it to take you to where that number came from.

 

To do this:

  1. Select Forms mode
  2. Select the form desired from the left side
  3. Locate the box of interest
  4. Right click

 

For example:

 

See also IA 1040 Schedule 1 | Iowa Department Of Revenue

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Where do I find calculations for IA 1040 Schedule 1 interest info for Turbotax desktop?

Why does TurboTax show $1 on my Iowa Schedule line 1A?  Is it a rounding thing?  The amount reported on Federal 1040 line 2b was rounded down by $0.22 from the  total shown on Federal Schedule B.

AmyC
Expert Alumni

Where do I find calculations for IA 1040 Schedule 1 interest info for Turbotax desktop?

All figures on your tax return should be rounded numbers. This is a requirement and the program does it for you.

@ILC6155 

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Where do I find calculations for IA 1040 Schedule 1 interest info for Turbotax desktop?

Where do I find this number on TurboTax online? I download TurboTax results as PDF from print center, but couldn't lookup how this number calculated.......

JamesG1
Expert Alumni

Where do I find calculations for IA 1040 Schedule 1 interest info for Turbotax desktop?

What number are you wanting to find?

 

Taxable interest income flows to IRS form 1040 line 2b directly from Schedule B.  

 

However, Schedule B is not required to print out unless the interest and dividends exceed $1,500.

 

@virii19790829 

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