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Level 2
March 25, 2020
Solved

Form 1099 INT

  • March 25, 2020
  • 1 reply
  • 24 views

I received and entered a 1099-INT from my bank with saving bond interest in box 3 and no other entry.  Turbo tax has entered this value correctly in Box 3 plus a $0 entry in box 1 and flagged it as an error.  This can not be cleared in forms or anything and now I can not e-file.  It tells me to enter the $0 interest elsewhere with a different payer but otherwise will not let me get rid of it.  What do I do?

    Best answer by JamesG1

    Are you able to delete the 1099-Int and re-enter?  If you cannot, have you tried leaving TurboTax and going back in to delete the 1099-Int?

     

    Are you able to delete Schedule B and re-enter?

     

     

    1 reply

    GiseleD
    Level 14
    March 25, 2020

    You can try entering $1 in Box 1 of your 1099-INT in order to bypass the e-file rejection. You will pay tax on an extra dollar of income, but it will be cheaper than the postage to mail your return. 

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    Level 2
    March 25, 2020

    Good thought but it will not work since TT is complaining that I cannot mix SB interest and regular interest on the same

    1099 and to remove the $0 and enter it on another 1099, except this still leaves the original $0 there as an error.

    JamesG1Answer
    Level 15
    March 25, 2020

    Are you able to delete the 1099-Int and re-enter?  If you cannot, have you tried leaving TurboTax and going back in to delete the 1099-Int?

     

    Are you able to delete Schedule B and re-enter?

     

     

    **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"