topic Where do I enter bank interest income? in Get your taxes done using TurboTax

Where do I enter bank interest income?

d_daro — Sat, 01 Jun 2019 07:20:12 GMT

Usually the bank will send you a Form 1099-INT that lists...

cameaf — Sat, 01 Jun 2019 07:20:26 GMT

Usually the bank will send you a Form 1099-INT that lists how much interest was earned for the tax year. Whether or not you have received the form, you can enter interest income into TurboTax online by:

Logging into your TurboTax online account:

Click Take me to my return

In the upper right hand corner search box, Type 1099-INT; Click the Jump to 1099-INT link that appears in your search results.

Click Yes when asked if you received any interest income.

Choose your bank or brokerage from the list to import your 1099-INT and click/tap Continue or manually enter your 1099-INT by clicking I'll type it in myself and click Continue.

Follow the on screen instructions to enter your 1099-INT.

https://ttlc.intuit.com/replies/3300478

Usually the bank will send you a Form 1099-INT that lists...

cameaf — Thu, 06 Jun 2019 05:46:21 GMT

Logging into your TurboTax online account:

Click Take me to my return

In the upper right hand corner search box, Type 1099-INT; Click the Jump to 1099-INT link that appears in your search results.

Click Yes when asked if you received any interest income.

Choose your bank or brokerage from the list to import your 1099-INT and click/tap Continue or manually enter your 1099-INT by clicking I'll type it in myself and click Continue.

Follow the on screen instructions to enter your 1099-INT.

https://ttlc.intuit.com/replies/3300478

Re: Where do I enter bank interest income?

Madridinwinter — Fri, 05 Mar 2021 02:32:05 GMT

What if the interest is only .20? We wouldn’t get a form from the bank and we technically need to report it, right?

Re: Where do I enter bank interest income?

BillM223 — Fri, 05 Mar 2021 03:42:20 GMT

@Madridinwinter

The IRS permits tax software companies to use rounding on amounts that are entered.

So, in your case, TurboTax would round $0.20 down to zero, and there is no requirement to report zero interest.

Don't enter this amount and don't worry about it.