topic Interest income in TurboTax 2024 without a 1099-INT in Business & farm

Interest income in TurboTax 2024 without a 1099-INT

Dog75 — Sat, 25 Jan 2025 19:36:49 GMT

How do you enter interest income in Turbo Tax 2024 without a 1099-INT. Trying to enter interest income without a 1099-INT.

Re: Interest income in TurboTax 2024 without a 1099-INT

VolvoGirl — Sat, 25 Jan 2025 19:40:46 GMT

Enter it in the same place as a 1099INT. Skip Import. All you need to enter is the name of who is paying you like the bank or broker and put the amount in box 1. Why don’t you have a form? Oh if you cashed in savings bonds it goes in box 3 not 1.

Re: Interest income in TurboTax 2024 without a 1099-INT

DoninGA — Sat, 25 Jan 2025 19:41:35 GMT

Enter interest income in the Search box locate in the upper right of the program screen. Click on Jump to interest income

On the screen Did you have investment income in 2024? Click on Yes

On the screen Let's import your tax info, click on Enter a different way

On the screen OK, let's start with one investment type, click on Interest and Continue

On the screen How would you like to upload your 1099-INT? Click on Type it in myself

Enter the payer's name in Received from: and the amount of interest received in box 1

Re: Interest income in TurboTax 2024 without a 1099-INT

Dog75 — Sat, 25 Jan 2025 20:17:41 GMT

Thank you for the quick response, worked perfectly!

Re: Interest income in TurboTax 2024 without a 1099-INT

Dog75 — Sat, 25 Jan 2025 20:23:03 GMT

Thank you for the quick response. I have a small savings account from a long time ago that earned just under $10 last year. I need to close it. I was able to get it entered.

Re: Interest income in TurboTax 2024 without a 1099-INT

Galaxy_Guy — Thu, 06 Feb 2025 15:43:55 GMT

Alas, this doesn't work! It doesn't go to the screen "Did you have investment income in 2024?" because I've already entered a bunch of 1099-INTs.

Instead, it takes me right back to the screen that lists the 1099-INTs I've already entered! My only choice there is to click on "Add Investments". That leads to a screen that demands a 1099-INT be filled out!

Nothing about manual entry, do it myself, etc. Are you all on TT on Windows? Perhaps, that's the problem that your directions are different from what I see on the Mac.

The solution, as noted elsewhere in the TT forums, is to pretend one received a 1099-INT and enter the bank's name and the minuscule amount (<$10) in Box 1, anyway. While that seems disingenuous, unethical, or hypocritical, it's the only solution I've found.

Note: At least one of my banks provided a 1099-INT for a tiny amount (<$10), so the illusory approach seems to be acceptable. One simply pretends the bank or credit union sent you a 1099-INT even though they didn't!

P.S. Why does editing one's comment required turning OFF "Prevent Cross-site Tracking"? That's a tad unsettling!