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rahiam
New Member

I did not get a 1099-R for my checking or savings account because I earned less than $10 in interest. Do I still have to enter it into intuit?

 
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2 Replies
MinhT1
Employee Tax Expert

I did not get a 1099-R for my checking or savings account because I earned less than $10 in interest. Do I still have to enter it into intuit?

You are referring to form 1099-INT, not 1099-R.

 

You have to enter the amount of interest received as if you had received a form 1099-INT.

 

In TurboTax, you can enter your form 1099-INT by following these steps:

 

  1. In TurboTax, open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income 
  3. Locate the section Interest and Dividends and click on the arrow on the right
  4. Click Start next to Interest on 1099-INT.
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I did not get a 1099-R for my checking or savings account because I earned less than $10 in interest. Do I still have to enter it into intuit?

You don't get a 1099R from a bank unless it's for a IRA or 401K account.  Yes you have to report all your income.  Bank interest goes on a 1099 INT form.

 

All you need to enter is the bank name or who paid you and put the amount in box 1.

 

Enter interest received like a 1099-Int under

Federal Taxes tab (Personal for Home & Business)

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

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