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Weird adjusted (Part 1 Interest) output on e-file 1040 return
Today I submitted my 1040 e-file return for 2023. The Federal 1040 output report generated inTurboTax is showing an "other adjustment" in Part 1 of Interest & Ordinary dividends. This amount is a <negative> $$ amount that reduced the proper interest income I had already input for the Marcus Bank paying entity. Their combined 1099-INT form had multiple accounts held for the year (CD's mostly and a savings account.) When I tried to originally "import" the data by logging into Marcus - it ony pulled thru the 1099m interest for page 1 of the document. I then had to delete that entry and manually add the data total. I now expect the IRS is going to ask why I made a negative adjustment??
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March 12, 2024
11:38 AM