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flyboywayne
Level 2
March 9, 2020
Question

1099INT

Have a 1099INT with Box 2 showing the interest from a previous year, how does this get reported when box 2 on the turbo tax form shows it is for "Early Withdrawal Penalty"?

    3 replies

    ColeenD3
    ColeenD3
    Alumni - Intuit
    March 9, 2020

    Box 2 Form 1099-INT from the IRS also codes it as Early Withdrawal Penalty. Are you saying you got a 2019 1099 with 2018 interest? Is it a 2018 form?

    flyboywayneAuthor
    Level 2
    March 9, 2020

    The 1099INT is from a state and for Calendar Year 2019 with Box 1 showing the interest amount and box 2 saying "Interest for Tax Year 2017".  Thank you for your previous reply.

    ColeenD3
    ColeenD3
    Alumni - Intuit
    March 9, 2020

    Did you actually receive it in 2019? If so, it is taxable for 2019. Include it in Box 1.

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