Yes, if you filed your prior year income tax return with Turbo Tax, you don't need to enter the payer information as most of your infomation were automatically downloaded for you. Your interest income reported on form 1099B can be imported directly from your bank or could be entered manually. You may follow the following steps if you desire to enter the interest income manually:
- Login to Turbo Tax.
- Under Income and Expenses tab, scroll all the way down until you get to Interest and Dividends section.
- Click start on Interest on 1099-INT.
- Click yes on "Did you receive any interest income?", then click continue.
- The next screen, "Let's import your tax information", at the bottom of the screen, click "Change how i enter my form".
- The next screen, "How do you add your 1099-INT", click "Type it in myself".
- The screen, "Lets get the info from your 1099B", enter the Payer's information and the amount of interest income on Box 1 of 1099B-INT.
You may also import the information by following steps 1 through 4, then on step 5 click "Bring it over from my bank", then type the name of your bank, and your 1099B-INT will be imported into your income tax return.
