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Level 2
June 1, 2019
Solved

How to show early withdraw payment for a CD block2 1099

  • June 1, 2019
  • 3 replies
  • 22 views
Turbo tax does not have an option in interest income to show early withdraw payment which goes on line 30 1040
Best answer by Bsch4477

volvo answered this in the past:

Enter an Early Withdrawal Penalty for a cd or savings account like you would enter a 1099Int and put the penalty in box 2.  It goes under:
Federal Taxes tab
Wages & Income
Choose Explore on my own or I'll choose what to work on  (if it comes up)
Interest and Dividends
Interest on 1099INT - Click the Start or Update button


3 replies

meyer1909Author
Level 2
June 1, 2019
answer provided does not provide solution
Level 15
June 1, 2019
Make your question clearer. A CD has no relation to a 1099
Bsch4477Level 15Answer
Level 15
June 1, 2019

volvo answered this in the past:

Enter an Early Withdrawal Penalty for a cd or savings account like you would enter a 1099Int and put the penalty in box 2.  It goes under:
Federal Taxes tab
Wages & Income
Choose Explore on my own or I'll choose what to work on  (if it comes up)
Interest and Dividends
Interest on 1099INT - Click the Start or Update button