d_snively
New Member

How do I report interest if no 1099 is being issued?

 

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Is it from a Seller financed mortgage?
ModestaL
New Member

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Yes, you can still report your Interest Income without a 1099-INT. To enter your Interest Income, please complete the following steps below:

  • Sign in to TurboTax (if you're not already signed in)
  • Click on the Take me to my return button
  • Click on Federal Taxes tab
  • Click on Wages and Income tab
  • Scroll down to Interest and Dividends (Show More)
  • Click on the Start/Update button (next to Interest on 1099-INT) and follow the Interview questions. 

Please see FAQ (click on see entire answer), for more information about not receiving a 1099-INT: https://ttlc.intuit.com/replies/4774384

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Yes

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@Michellemlm777 

 

Are you PAYING the mortgage interest ?     

 

Or RECEIVING the interest ?     If receiving the answer above your post gives you the directions to enter it.  

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Your directions to still report interest is flawed.  I have bank interest but at about $7.00 they issued no 1099int statement.

Now when I enter the bank name and interest all is well but turbotax will not work with it as there is no 

payers TIN.  I just keep getting a "Please Review".

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I enter all my interest that way even if I have the 1099 INT.

 

Don't enter the bank or broker name and don't try to import it.  It is just as fast and easy to manually enter it.  At the bottom pick -  Change How I enter my Form

Then on the next screen pick I'll Type it in Myself

 

davlowal
New Member

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Did you find a solution for this?  I am having the same issue.  If you search the help the text even states that if you enter the information yourself, no FEIN box will be present.  But it's there, alright.  And it's preventing me from finishing my taxes.

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The TurboTax will not ask for EIN if you choose the option I will type it myself.

Enter Bank in the Received from box and enter the amount of interest in Box 1.

 

  • Open your Tax return
  • Click on Federal >Wages & Income
  • Click on Interest and follow the onscreen instructions.

 

Click on the link for more information

 

Bank Interest

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But TT still allows the amount to be entered only in the "Box 1" box, even though no 1099 was received.

MarilynG
Expert Alumni

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Yes, if you are entering Interest in the 1099-Int section, and chose 'I'll type it in myself', TurboTax displays a screen where you can enter your interest amount in Box 1.

 

You don't need to have a 1099-Int form to do this. 

 

If you have another type of interest to report, please clarify and we'll try to point you in the right direction.

 

Click this link for more info on How to Enter 1099-INT.

 

 

 

 

 

 

 

 

 

 

@rbrookefox

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@MarilynG I thought the "Box 1" etc. notes referred to the 1099, in which case entering the number as being supplied there is not true, and would not reconcile with the data supplied by the payee to the IRS.

CarissaM
Intuit Alumni

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It would be best to follow the instructions here to contact us by phone so we can better assist you. 

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