Where should I enter 1099 omb 1545-0112

Forum|Forum|7 years ago
June 6, 2019
2 replies
49 views

I am finding different answers on where and how to enter Interest Income for a Form 1099 OMB No 1545-0112. Can I get the correct answer from TurboTax?

TurboTax Deluxe Windows

Best answer by

The OMB 1545-0112 is not the important information on that form. The important information is usually the letters that follow the 1099. In this case, it sounds like you have a 1099-INT. If this is the case, enter the information using the following steps:

Go to the Federal category
Click on the Wages and Income TAB.
Find the section labeled Interest and Dividends.
Click start on the line labeled Interest on 1099-INT

Anonymous

Answer

Go to the Federal category
Click on the Wages and Income TAB.
Find the section labeled Interest and Dividends.
Click start on the line labeled Interest on 1099-INT

Tucky512

Level 2

Like the original poster, I got the same form #. Oddly it says Interest Income in print, but NEVER uses the 1099-INT naming convention. It is interest from my state, PA, based on a prior tax year (amended return), but paid in 2020. There is info in box 2 that says "For tax year". Turbo prompts "My form has more info than just Box 1", however BOX 2 on this OMB (For Tax Year:) does NOT match Box 2 of the 1099-INT (Early withdrawal penalty)...

I'm assuming I should skip box 2 entry and enter the interest income only. Sound right?

gloriah5200

Level 10

Yes, if your 1099-int does not contain an early withdrawal penalty amount in box 2 then you can skip it since it shows other information that will not change the dollar amount on your return.

Enter the interest income in box 1 in the return reported under the correct ein.

K B1

Level 2

1099-INT--If you only have line 1 interest, you can use step-by-step. If more lines of entry, go to FORMS (upper rt corner selection) and enter that way.