topic IRS Form 1099 INT in Get your taxes done using TurboTax

IRS Form 1099 INT

Vt9 — Tue, 08 Feb 2022 20:00:23 GMT

I've received a mail from IRS for the 1099 INT for 2021. Do I input this info in the Schedule B Form 1099 INT Worksheet and is this also being tax as income since I was not aware that I received any interest payment from IRS last year. Thank you.

Re: IRS Form 1099 INT

Vanessa A — Tue, 08 Feb 2022 20:10:29 GMT

Yes, it would go in the 1099 INT worksheet for Schedule B and yes you are being taxed on it as it is interest income.

Re: IRS Form 1099 INT

VolvoGirl — Tue, 08 Feb 2022 20:11:57 GMT

Yes the IRS took so long last year to pay refunds they paid interest on it.

Enter interest from the IRS like a 1099Int and put the amount in box 1. Enter it manually and just enter IRS for the payer. Don't enter any other info like the address.

Enter a 1099-Int under

Federal on left

Wages & Income at top

Interest and Dividends

Interest on 1099INT - Click the Start or Revisit button

Don't enter a bank or broker name and don't try to import it. At the bottom pick - Change How I enter my Form

Then on the next screen pick I'll Type it in Myself

Re: IRS Form 1099 INT

PoppaChris — Tue, 08 Feb 2022 20:14:54 GMT

If you received a 1099-INT, then the amount on it has been reported as income regardless of whether or not you actually received a check. You must report it as income on your 1040 return.