After I entered my 1099-INT I was later asked how much interest I earned and I entered the amount again. Now my income is showing double interest. When you click details it only shows the original amount though. How do I fix this?
Yes, you entered it twice.
To fix it, go back to the interest section in Turbo Tax. Delete one of the entries.
Then, when you get ready to review it, it asks if you had an interest in a foreign bank account. Answer "No" to that question (unless you do), and you'll be able to continue on.
Ok but if I do this it looks like I'm not reporting my 1099-INT ??
If you're deleting a duplicate entry, then your 1099-INT is already there--you're just erasing the duplicate entry.
im having this same situation, its not showing the duplicate
I too have this issue. Except that it does not show 2 entries. It only shows the one with the correct amount. But in the review it shows as double, probably because it asked me to enter it again in the final review. So now the total is doubled, but the detail only shows one entry at the correct amount. If I delete the one entry, it shows that I've entered no 1099-INT, but shows the correct amount in the review.
I too have this issue. Except that it does not show 2 entries. It only shows the one with the correct amount. But in the review it shows as double, probably because it asked me to enter it again in the final review. So now the total is doubled, but the detail only shows one entry at the correct amount. If I delete the one entry, it shows that I've entered no 1099-INT, but shows the correct amount in the review.
i have the exact same issue. I did not enter my 1099-INT twice, but the amount its showing is double.
Having the exact same issue anyone find a resolution to this yet?
Hello everyone! This is Alex from TurboTax Product Support and I have posted the resolution to this problem below!
1. Click on "Tax Tools" in the bottom left of your screen
2. Choose the "Tools" option.
3. The third entry should state "Delete a Form". Click on this option.
4. Scroll through all of your forms, looking particularly for any 1099-INT and 1099-DIV
5. Choose the "Delete" option next to each of your INT and DIVs
6. Once those are deleted, look for any entries that say "Schedule B" (There may be two, or more. This is what's causing your issue!)
7. Delete any and all "Schedule B"
8. Next, return to the "Federal" tab on your left menu
9. Make sure "Wages & Income" tab is chosen at the top
10. Next to the 1099-INT section, there should be a blue "Start" button
11. Click "Start" and proceed to re-enter your 1099-INT and any 1099-DIV
12. Select "Done" and on the Summary screen, check to make sure the total figure is correct
This fix may not work for everyone, but for this particular situation (where only one 1099-INT is entered, but the total amount shows double) I found this fix to work best! Good luck everyone, and Happy Taxing! 🙂
Same issue. I have over 10+ 1099-int/div, and deleting forms is the best i can try? Has anybody tried it?
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i have the exact same issue. I did not enter my 1099-INT twice, but the amount its showing is double.
June 4, 2019
5:42 PM
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And here it is in January 2024 and the problem is still not fixed. TurboTax just doubled my manually entered interest too. Now I'll probably have to amend my tax return...
Where exactly are you entering the interest income on the input? And where exactly is it showing up twice? When I enter the interest income on TurboTax it seamlessly flows through to the forms.
If you would be a little more specific as to where you are entering the information, We can trouble shoot further.
AbrahamT - You are not following this thread that dates back to 2019.
The interest is not showing up twice. The interest is DOUBLE (i.e. 2X) what was entered manually - and the entry was exactly where it is supposed to be entered in INTEREST INCOME.
I entered $2,054.28 but Schedule B Part 1 Interest shows $4,108.56 which is exactly double (i.e TWICE or 2X) what was actually entered. It's not hard to grasp!
i have the exact same issue. I did not enter my 1099-INT twice, but the amount its showing is double.
Same issue here in 2024 six years after this 'doubling' error became known! 😠
@kentaaa94 wrote:
Hello everyone! This is Alex from TurboTax Product Support and I have posted the resolution to this problem below!
1. Click on "Tax Tools" in the bottom left of your screen
2. Choose the "Tools" option.
3. The third entry should state "Delete a Form". Click on this option.
4. Scroll through all of your forms, looking particularly for any 1099-INT and 1099-DIV
5. Choose the "Delete" option next to each of your INT and DIVs
6. Once those are deleted, look for any entries that say "Schedule B" (There may be two, or more. This is what's causing your issue!)
7. Delete any and all "Schedule B"
8. Next, return to the "Federal" tab on your left menu
9. Make sure "Wages & Income" tab is chosen at the top
10. Next to the 1099-INT section, there should be a blue "Start" button
11. Click "Start" and proceed to re-enter your 1099-INT and any 1099-DIV
12. Select "Done" and on the Summary screen, check to make sure the total figure is correct
This fix may not work for everyone, but for this particular situation (where only one 1099-INT is entered, but the total amount shows double
) I found this fix to work best! Good luck everyone, and Happy Taxing! 🙂
This problem (error) in TurboTax should not happen - and it's still happening in 2024, five years later after it was discovered back in 2019.
For a TurboTax customer to have to go through the above convoluted 'fix' is crazy. It makes customers lose confidence in TurboTax.
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Just to let you know we're getting older and have had some money to invest the last few years and actually received multiple 1099s from a Wells Fargo account in both our joint account and my wife's account and use the import feature. Sadly in 2023 anything that was in the joint account duplicated under my wife's account on the import and I didn't notice and overpaid my taxes. I'm debating on whether it's worth trying to do an amend or not but that's another story....
Same thing seems to be happening this year but at least I caught it and was able to delete the extraneous information. At first I thought this is a Wells Fargo issue but now it feels like it's a TurboTax issue.
What I see on the screen looks correct and I'm assuming the numbers are being processed correctly to calculate the correct amount due. I don't see any doubling anywhere like you guys do but again that's after I deleted what was imported twice. Now could the software be showing one thing and somehow calculating tax on double that number.. I sure hope not.
The community is always been awesome in helping me prepare my taxes for 10 years or more but the fact that these problems are persisting makes me wonder if there aren't better options out there and so far as tax software.
:(