DawnC
Expert Alumni

Retirement tax questions

You will enter the necessary adjustment on the 1099-INT screen.   Go back and edit the entry you made to report the 1099-INT.   Follow these steps:

 

  1. After you click Continue when you have finished entering the information from your Form 1099-INT, the next screen is titled Tell us if any of these uncommon situations apply to you
  2. The second choice on this screen is I need to adjust my taxable amount 
  3. Check this box and click Continue
  4. Then you will see a screen titled Report Interest adjustment
  5. Enter the amount as a positive number and select the reason for the adjustment (I am a nominee).  

 

This will make the proper entry on your Schedule B.

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