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wallyproctor1
New Member

How do you enter a return of principal from FNMA on Turbo Tax?

 
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Accepted Solutions
ToddL
New Member

How do you enter a return of principal from FNMA on Turbo Tax?

"Return of principal" is not a a taxable event (i.e. not income); it is not reported on your tax return.

The most common example would be cashing in a Certificate of Deposit; only the interest would get reported on the tax return, not the return of principal.

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1 Reply
ToddL
New Member

How do you enter a return of principal from FNMA on Turbo Tax?

"Return of principal" is not a a taxable event (i.e. not income); it is not reported on your tax return.

The most common example would be cashing in a Certificate of Deposit; only the interest would get reported on the tax return, not the return of principal.

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