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Level 2
March 16, 2025
Solved

I got interest from a bank that was not large enough to warrant a 1099-INT. How can I report this interest?

  • March 16, 2025
  • 1 reply
  • 21 views
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Best answer by SharonD007

Even though you didn't receive Form 1099-INT, you still report the interest, which is reported on Schedule B.

 

To enter your 1099-INT follow the steps below:

 

  1. Launch TurboTax
  2. Select Federal and Wages & Income
  3. Select Add more income
  4. Select the dropdown by Investments and Savings
  5. Select  Interest on 1099-INT and follow the prompts to enter the interest that you received.

 

Refer to the TurboTax Help article Filing Tax Form 1099-INT: Interest Income for more information.

1 reply

SharonD007
Level 14
March 16, 2025

Even though you didn't receive Form 1099-INT, you still report the interest, which is reported on Schedule B.

 

To enter your 1099-INT follow the steps below:

 

  1. Launch TurboTax
  2. Select Federal and Wages & Income
  3. Select Add more income
  4. Select the dropdown by Investments and Savings
  5. Select  Interest on 1099-INT and follow the prompts to enter the interest that you received.

 

Refer to the TurboTax Help article Filing Tax Form 1099-INT: Interest Income for more information.

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SirDingusAuthor
Level 2
March 16, 2025

Thank you for the response. However, how am I supposed to report a nonexistent 1099-INT? Won't it get flagged because it doesn't exist?

Mike9241
Level 15
Level 15
March 16, 2025

assuming the bank did not report this to the iRS, reporting more income than their records show should never create a problem. Your situation is common.

Mike9241