turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

seattlerust
Returning Member

Error in Turbo Tax

I have discovered an error in populating tax exempt interest in Line 2a of Form 1040. I need independent confirmation and advice s to how to advise TT.

**bleep**

[email address removed]

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Error in Turbo Tax

describe what you think is the error. otherwise, how can anyone verify it! i had tax-exempt interest income and it was reported correctly on line 2a.  

seattlerust
Returning Member

Error in Turbo Tax

I have to retract my earlier statement. There is no error. The differences that I was seeing came from the deduction of Bond Premium and of Acquisition Premium from Exempt Interest, which TT does automatically. I didn't realize that and thought that one had to use the Part of the 1099-INT form that is titled "Adjustments to Interest" to accomplish that reduction of Tax Exempt Interest. Numbers now balance.

Thanks for responding. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question