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reillydm
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Paid an early withdrawal penalty for closing a regular CD in 2016. Is this deductible and, if so, where do I report it?

 
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Paid an early withdrawal penalty for closing a regular CD in 2016. Is this deductible and, if so, where do I report it?

When you enter the interest income from the CD, check the box beside "My form has info in more than just box 1". This will open a drop down with additional boxes. Enter the early withdrawal penalty in box 2.

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Paid an early withdrawal penalty for closing a regular CD in 2016. Is this deductible and, if so, where do I report it?

When you enter the interest income from the CD, check the box beside "My form has info in more than just box 1". This will open a drop down with additional boxes. Enter the early withdrawal penalty in box 2.

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