topic 1099INT in Get your taxes done using TurboTax

1099INT

flyboywayne — Mon, 09 Mar 2020 15:36:07 GMT

Have a 1099INT with Box 2 showing the interest from a previous year, how does this get reported when box 2 on the turbo tax form shows it is for "Early Withdrawal Penalty"?

Re: 1099INT

ColeenD3 — Mon, 09 Mar 2020 15:53:13 GMT

Box 2 Form 1099-INT from the IRS also codes it as Early Withdrawal Penalty. Are you saying you got a 2019 1099 with 2018 interest? Is it a 2018 form?

Re: 1099INT

flyboywayne — Mon, 09 Mar 2020 16:07:35 GMT

The 1099INT is from a state and for Calendar Year 2019 with Box 1 showing the interest amount and box 2 saying "Interest for Tax Year 2017". Thank you for your previous reply.

Re: 1099INT

ColeenD3 — Mon, 09 Mar 2020 16:13:28 GMT

Did you actually receive it in 2019? If so, it is taxable for 2019. Include it in Box 1.