I was reviewing my federal returns before eFiling, and noticed that on Line 18 of my 1040 Schedule 1, there is a value listed for "Penalty for early withdrawal of savings" which impacts my AGI by a significant amount.
I haven't withdrawn any funds from any retirement accounts or CDs and I have no 1099-Rs in my return.
I've deleted and re-added all of my forms multiple times, I've double checked under all of the subsections to income and additional tax payments and I don't have anything listing that I withdrew any funds. There's nothing anywhere in my info that matches the value on line 18.
I tried to clear everything and restart from scratch but TurboTax won't allow that after you've paid the filing fee.
I am incredibly frustrated and don't know how to correct this software error, would appreciate any help.
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You need to check any and all your 1099-INT forms.
That $$ amount is from box 2 on one (or more) of those 1099-INT forms...either a real entry there, or a mistaken entry in the wrong box.
You need to check any and all your 1099-INT forms.
That $$ amount is from box 2 on one (or more) of those 1099-INT forms...either a real entry there, or a mistaken entry in the wrong box.
This solved it - that value was added mistakenly in field 2 of a 1099-INT form.
Thank you!
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