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I was told to go to Federal, Deductions & Credits, Other Deductions & Credits to find Early Withdrawal Penalty on a 1099-INT, box 2, but there is no Other D &C there.

Previous answers were off Base!  Where do I find Income, 1099-INT box 2, early withdrawal penalty ?
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I was told to go to Federal, Deductions & Credits, Other Deductions & Credits to find Early Withdrawal Penalty on a 1099-INT, box 2, but there is no Other D &C there.

To enter your early withdrawal penalty (Form 1099-INT box 2 amount) in TurboTax Online:

  1. Select Tax Home in the left pane
  2. On the Hi, let's keep working on your taxes! screen, select the dropdown on the right side of the Income & Expenses box, then select StartContinue, Review/Edit or  Pick up where you left off
  3. Scroll down and select the Show more dropdown to the right of Investments & Savings 
  4. Select  Start or Revisit to the right of Interest on 1099-INT
  5. Select  Yes on the Did you receive any investment income? screen, then select Continue
    • If you see either the Your investments & savings or Here's your 1099-INT info screen or Let’s finish pulling in your investment income screen, select Add investments or Add another 1099-INT as appropriate, then select Continue
  6. On the next screen, choose how to enter your Form 1099-INT data
    • To import your form, search for your brokerage or financial institution. Sign in to your online account and select Get my form
    • To upload a copy of your form or manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT
  7. On the Let's get the info from your 1099-INT screen, select the box next to My form has info in other boxes (this is uncommon).  Enter your Box 2 amount in the Box 2 - Early withdrawal penalty field, then select Continue
  8. On the Do any of these uncommon situations apply? screen, check whichever box is appropriate, then Continue

I was told to go to Federal, Deductions & Credits, Other Deductions & Credits to find Early Withdrawal Penalty on a 1099-INT, box 2, but there is no Other D &C there.

NO...it is on the 1099-INT form itself.

 

You Edit the 1099-INT form, enter the box 1 $$, then look for a checkbox to show all the otehr boxes.

Then  the box 2 and all other boxes show up for you to make whatever entries you need.  IT is NOT on the D&C page.

_______________________

 

1099-INT_Boxes.jpg

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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