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greywalk88
New Member

How do I enter my interest income for 1099-INT if I'm not a member of the bank where I cashed the treasury bonds (Wells Fargo)?

 
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Accepted Solutions
RayW7
Expert Alumni

How do I enter my interest income for 1099-INT if I'm not a member of the bank where I cashed the treasury bonds (Wells Fargo)?

If you received a 1099-INT just enter the information as listed on the form and prompted by TurboTax.  TurboTax will guide you through the process.  
 

You do not have to have a current account at the financial intuition that issues the 1099-INT.

 

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

  1. Open (continue) your return if it's not already open.
  2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
  3. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income.
  4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.

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3 Replies
RayW7
Expert Alumni

How do I enter my interest income for 1099-INT if I'm not a member of the bank where I cashed the treasury bonds (Wells Fargo)?

If you received a 1099-INT just enter the information as listed on the form and prompted by TurboTax.  TurboTax will guide you through the process.  
 

You do not have to have a current account at the financial intuition that issues the 1099-INT.

 

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

  1. Open (continue) your return if it's not already open.
  2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
  3. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income.
  4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.
djp062
New Member

How do I enter my interest income for 1099-INT if I'm not a member of the bank where I cashed the treasury bonds (Wells Fargo)?

I entered my information into the 1099-int portion, but my interest is entered in field 3. It was from a savings bond. Now when I review my federal it is giving me errors. I never received a 1099-b. 

SamS1
Expert Alumni

How do I enter my interest income for 1099-INT if I'm not a member of the bank where I cashed the treasury bonds (Wells Fargo)?

It sounds like you have some forms you don't need.  The Try the following while in your return:

  • In the left margin, click on Tax Tools
  • Then Tools
  • Then Delete a Form
  • Look for a 1099-B and if one is there, delete it,
  • Click back and then back

Try re-running the Federal review at the top of your screen to see if you get any errors.

 

The pandemic has affected your taxes in many ways. Including reporting in TurboTax the amount of stimulus money you received. Click Here for more information on how the Pandemic affected your 2020  taxes.

 

 

 

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