My wife has two different savings accounts in the same online bank, both of which had taxable interest.
One of the savings accounts has only a small amount in it, so the interest income was only $0.12 last year. The other account pays a higher rate, so that other account has the majority of the money in it.
Both accounts are accessed under the same online account ID and password, so they do not have separate user IDs that one must use to log in.
I tried to import the 1099-INT information, presuming I'd get the total interest paid for both accounts that appears on the 1099-INT form, which is the way it appears on the 1099-INT I downloaded from the bank's website, although, or course, the 1099 shows two separate accounts on the 1099 with box 1 (Interest Income), through box 17 (State Tax Withheld), shown separately for each of the two accounts.
There is also a summary section that shows the sum total for both accounts which shows boxes 1 through 17. This section is labeled "***Total 1099-Int". This "totals" section appears below both of the independent account sections on the 1099-INT.
The account that only earned $0.12 is the account that is shown first on the 1099-INT I downloaded myself.
When I imported into TurboTax desktop, TT only imported the amount shown in the highest set of boxes, i.e., it imported a total of $0.12 of interest income.
Thanks, but I'd prefer not to get hit with interest and probably IRS penalties for failing to report the true amount of 1099-INT income. Please fix this bug ASAP!!!!!!!!!
