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mrwok2
New Member

Where can I enter the " early withdrawal penalty " on my 1099 INT ?

 
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Accepted Solutions
macuser_22
Level 15

Where can I enter the " early withdrawal penalty " on my 1099 INT ?

Yes it is deductible on the 1040 line 36 that comes form Schedule 1 line 30 "Penalty on early withdrawal from savings" from  box 2 on the 1099-INT.

Click on the "My form has more boxes" under box 1 and the screen will open.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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3 Replies
Carl
Level 15

Where can I enter the " early withdrawal penalty " on my 1099 INT ?

Penalties and fines for anything are not deductible. That's why there's nowhere to enter it.
adel33545
New Member

Where can I enter the " early withdrawal penalty " on my 1099 INT ?

email alert some try to log in to account
macuser_22
Level 15

Where can I enter the " early withdrawal penalty " on my 1099 INT ?

Yes it is deductible on the 1040 line 36 that comes form Schedule 1 line 30 "Penalty on early withdrawal from savings" from  box 2 on the 1099-INT.

Click on the "My form has more boxes" under box 1 and the screen will open.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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