If you received a 1099-MISC for interest income, it should be in Box 8, Substitute Payments. How you "phrase" your description won't determine how it's reported. How you enter it will. To report in TurboTax Online, make sure you are logged in and working in your return:
- Click on "Federal" on the left of your screen
- Select Wages & income
- Scroll down to "Other Common Income"
- Select "Form 1099-MISC" and click on Start/Revisit
- Answer "Yes" to "Did you get a 1099-MISC?"
- Enter the information on your 1099-MISC, and check the box for "My form has other info in boxes 1-18"
The amount will be reported as Other Income on Schedule 1 (1040) line z.
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