turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How can I figure out what $8.00 of taxable interest is based on? Our only investment income is a small savings account.

A mystery that college financial aid paperwork expects me to answer to complete application. It must be in my filing entries, right? But the bank says I only had $4.00 interest income. ??
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

How can I figure out what $8.00 of taxable interest is based on? Our only investment income is a small savings account.

for such a tiny amount, just say "Savings account".

@cliffordhughes 

How can I figure out what $8.00 of taxable interest is based on? Our only investment income is a small savings account.

Yeah, that's what I was inclined to do, but there are multiple warnings that the entries must be the same as the return, which College Board can access. It doesn't show a source of the interest, only an amount different than the credit union says we earned. Penalty for inaccuracy includes delays in processing. Oh well. It's only money! Thanks for your quick response. 

How can I figure out what $8.00 of taxable interest is based on? Our only investment income is a small savings account.

What idiots those college financial aid fools are ... making a fuss over $4 ???   Save a PDF of the return which includes all the worksheets to see where the interest came from ... if you had a K-1 form it may have come from that.  

 

How do I access a prior-year return?

Here's how to view and download your prior-year returns. You can access returns for the past seven years.

First time signing in this year

  1. Sign in to your TurboTax account and continue through your prior year summary (EVEN IF YOU WILL NOT USE THE TT PROGRAM FOR THE 2022 RETURN). Make sure you're using the same TurboTax account (user ID) as in prior years.
  2. On the next screen click on TAX HOME then  scroll down and select Your tax returns & documents.
  3. Select the year you want, then select Download/print return (PDF).

If you've started your return already

 

Sign in to your TurboTax account. Make sure you're using the same TurboTax account (same user ID) as in prior years.

There are two ways to get your prior-year returns.

  1. Select Documents from the side menu, use the drop-down menu to choose the tax year you want, and select Download tax PDF.
  2. From Tax Home, scroll down and select Your tax returns & documents. Select the year you want and select Download/print return (PDF).

Note: If the year you're looking for isn't there, it might be in a different account. Go here to find all of your accounts. One of them should have the return you're looking for

Need to prepare a prior-year return? Go here instead.

How can I figure out what $8.00 of taxable interest is based on? Our only investment income is a small savings account.

I have a copy of the return already, and have combed through it in search of the "investment" that produced the $8.00. I'm sure the financial aid form is just a program that indicates an issue when you enter the details, then forces the applicant to correct an "oversight" after all the entries are completed when you review the form. I sure appreciate your advice, thanks again.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies