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New Member
posted Feb 13, 2020 5:55:24 PM

error on interest income

I am doing my taxes with turbo tax.  There is an error on interest received.  It shows on the interest earned entry, but shows less than the actual income on the summary tab and I cannot correct the figure.  I don't know why the reported interest income is less than actual.

0 2 1280
2 Replies
Expert Alumni
Feb 13, 2020 6:23:49 PM

Go back and double check your entries and ensure it's not dividend income because you will have ordinary dividends and qualified dividends. Just make sure you entered them in the correct places.

Returning Member
Feb 13, 2020 6:28:17 PM

Go back and check where you entered the interest and that you filled in the correct boxes.  Be sure you entered the amount in 1099-INT.  Be sure the amount is in Box 1.  If the box that says "my form has info in more than box 1" is checked, verify that the correct information is entered in the additional boxes