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How to I report interest from my IRA's, savings and checking account if I did not receive a 1099?

 
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3 Replies
MayaD
Expert Alumni

How to I report interest from my IRA's, savings and checking account if I did not receive a 1099?

You do not have to report interest earned on your IRA in the year that you earn it. When you take distribution you will report the income.

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How to I report interest from my IRA's, savings and checking account if I did not receive a 1099?

That is not the question I asked.  The retirement from Crown Holdings is not an annuity.  I cannot email my tax form because it keeps asking me what is the amount of the annuity.  How do I Fix this.  Last year I could talk to someone.  I will not use Turbo Tax next year if I don't get better service.  My phone number is [phone number removed].  Elaine Carter

BillM223
Expert Alumni

How to I report interest from my IRA's, savings and checking account if I did not receive a 1099?

"How to I report interest from my IRA's, savings and checking account if I did not receive a 1099?"

 

As Maya said, you don't report interest from an IRA. ONLY if you take a distribution from an IRA will you get a 1099-R and thus you will (probably) report the distribution as ordinary income.

 

As for checking and savings accounts, if the amount of interest is less than $10, then the bank/institutional is not required to send you a 1099-INT, but you are still required to report the interest as income on your return. If you don't have a 1099-INT, then consult your December checking and savings statements.

 

"The retirement from Crown Holdings is not an annuity.  I cannot email my tax form because it keeps asking me what is the amount of the annuity. " What is Crown Holdings? An IRA? Did you receive a 1099-R for a distribution from Crown Holdings? Was the IRA box right after box 7 on the 1099-R checked or not?

 

We would be happy to help you "fix" your return, if you will just tell us what you have. Remember that we in the Community cannot see your screen nor your private tax data.

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