i-e-hall
New Member

How do I report nontaxable interest income?

 
i-e-hall
New Member

Get your taxes done using TurboTax

where do I report tax free interest income on turbo tax

i-e-hall
New Member

Get your taxes done using TurboTax

how do i report tax exempt interest on turbo tax 2020

MayaD
Expert Alumni

Get your taxes done using TurboTax

You must report all taxable and tax-exempt interest on your federal income tax return. However, tax-exempt interest is not included in figuring adjusted gross income for taxation purposes.

Tax-Exempt Interest is reported in Box 8 of Form 1099-INT.

 

To report form 1099-INT on your Tax return:

  • Login to your account.
  • Select Federal from the left menu.
  • Go to Wages and Income then Income and Expenses.
  • Scroll Down to Interest and Dividends.
  • Select Start next to Interest on 1099-INT.
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**Mark the post that answers your question by clicking on "Mark as Best Answer"
MayaD
Expert Alumni

Get your taxes done using TurboTax

You must report all taxable and tax-exempt interest on your federal income tax return. However, tax-exempt interest is not included in figuring adjusted gross income for taxation purposes.

Tax-Exempt Interest is reported in Box 8 of Form 1099-INT.

 

To report form 1099-INT on your Tax return:

  • Login to your account.
  • Select Federal from the left menu.
  • Go to Wages and Income then Income and Expenses.
  • Scroll Down to Interest and Dividends.
  • Select Start next to Interest on 1099-INT.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"