Retirement tax questions

1)  First, you need to define whether you are talking about box 8 on a 1099-INT form? or box 11 on a 1099-DIV form ?  both of those may add in together into line 2a.

 

2)  IF it's for a 1099-DIV form, just delete that particular 1099-DIV form, and enter the data for the form again manually...do NOT import it into the software ..... in case there is a garbled file being imported .

 

3)  If it's box 8 on a 1099-INT, you might have to do the same thing.....BUT, if there are $$ in box 13, or if you are reporting "accrued" interest for a tax-exempt bond purchased in 2020...those entries can validly reduce the amount of the box 8 value that transfers to line 2a on the 1040...rarely a zero transfer, but it can happen.  ((((and for reporting accrued interest for a bond purchased in 2020, you must wait until you actually get your first interest payment on that bond))))

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*