I have the opportunity to dispute it and the amount they are wanting me to pay is quite substantial.
When I filed the interest as business income i notated this income on line 6 of Schedule C (other income.) All it asks on turbo tax is a brief description in the cash or checks section.
The company reported the interest to the IRS on a 1099-int.
Was there a better section to notate this income? I am obviously needing to know for this year's taxes as well.
Thank you for your responses thus far!
