Your total interest from Box 1 of your 1099-INT is reported in full on line 8a of your tax return (Form 1040). Your early withdrawal penalty is deducted on line 30 of your tax return. I entered the same figures as you in TurboTax. See the screenshots below, especially where this shows on your 1040.
To preview
your tax return:
- Go to My Account at the top of your screen.
- Choose Tools.
- In the
Tools Center, choose View Tax Summary.(see
screenshot)
- In
the Tax Summary, choose Preview My 1040. (see
screenshot)
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