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arrp07
New Member

TurboTax is double counting exempt interest dividends on the 1040. How do I change it?

 
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KathrynG3
Expert Alumni

TurboTax is double counting exempt interest dividends on the 1040. How do I change it?

Return to your entries in Interest and Dividends to edit. The shortcuts are listed below. They will bring you to the correct Wages & Income section for Interest and Dividends.

 

Check if something was accidentally entered in two areas. Tax Exempt income should be reported exactly as you received the forms. 

 

To do this in TurboTax,

  • In the search box, type 1099int and click the Jump to link to return to where Form 1099-INT details are entered.
  • In the search box, type 1099div and click the Jump to link to return to where Form 1099-DIV details are entered.

Even if the forms were imported, this navigation will get you to the correct location in TurboTax.

 

Tax-exempt interest is typically reported in box 8 of Form 1099-INT or box 11 of Form 1099-DIV. In either case, check the box My form has info in other boxes (this is uncommon) to enter these details.

 

For more information, see: What is a 1099 consolidated tax statement?

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