Get your taxes done using TurboTax
You purchased a bond between interest payment dates and had to pay some up-front interest for the days you did not own the bond.
This means that part of the interest payment you are reporting actually went to someone else, probably the previous owner of the bond.
You will need to subtract the amount that went to someone else.
IRS form 1099-INT may be entered manually. In TurboTax Online, follow these steps:
- Down the left side of the screen, click on Federal Taxes.
- Down the left side of the screen , click on Wages & Income.
- Select I'll choose what i work on.
- Click to the right of Interest on 1099-INT.
- At the screen Let's finish pulling in your investments, click the down arrow to the right of an interest income.
- Select Edit.
- At the screen Now, let's review your 1099-INT, click Continue.
- At the screen Do any of these uncommon situations apply, select I need to adjust the interest reported on my form. Click Continue.
- At the screen Tell us about your interest adjustment, enter the adjustment.
