Credit union “dividends” are usually actually interest from saving accounts, checking accounts, or CDs, and are generally reported as interest in Box 1 of Form 1099-INT, when the form is required to be provided to the taxpayer.
You’ll want to enter this income as interest in TurboTax Online:
- If you don’t see 2022 TAXES in the left pane, select the dropdown to the right of Income & Expenses on the Hi, let’s keep working on your taxes! page and then select Let’s get started, Pick up where you left off, or Review/Edit.
- Otherwise, in the left pane, select Federal, then Wages & Income (This is labelled Income & Expenses in TurboTax Self-Employed)
- Scroll down and select the Show more dropdown to the right of Investments & Savings
- Select Add investments
- Select Continue on the Get ready to be impressed screen
- Select Enter a different way on the Let’s import your tax info screen
- Select the Interest box, then Continue
- On the How would you like to upload your 1099-INT? screen, select Type it in myself at the bottom
Enter all of your information. Although the screens reference Form 1099-INT, no form is needed. Just enter the information that you have.
[Amended 2/24/2023 | 1:54 pm PST]
@edithney
