Hello,
I received 1099-INT from the bank for my business, where should I input that in Turbotax? I don't see that option. Thank you
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No any interest etc. you get from the bank goes under Personal Interest. Your business is a disregarded entity and you are filing your business on schedule C in your personal return. Unless your business is for loaning money and someone paid you interest. Actually it will be better to file it as Personal interest. Then you won't be paying Self Employment tax on it.
It looks like you might be looking in the Other Common Income section. Instead, add this in the Investment and Savings section.
I opened a business checking account with CHASE for my single member LLC. They gave me a couple hundred dollars for bonus. Now CHASE sent me this 1099-INT for that amount. The description is CASH BONUS. They have that amount in Box 1 of the 1099-INT. Since they show my company's name on the form, I think I should file it for business income. But I don't see where I can attach it under "Business Income and Expenses" section
No any interest etc. you get from the bank goes under Personal Interest. Your business is a disregarded entity and you are filing your business on schedule C in your personal return. Unless your business is for loaning money and someone paid you interest. Actually it will be better to file it as Personal interest. Then you won't be paying Self Employment tax on it.
That’s great. Thank you very much
Thank you very much
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