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pawli
New Member

*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

 
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pawli
New Member

*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

I think the *only* thing I needed to hear, that you or the other response did not say, was: Put your interest in the box that says Box 1 - Interest income; *even though there is no Box 1 in existence*

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*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

You'll simply go through the same path as if you were entering your information with a Form 1099-INT, entering any information you have.

To enter interest without a Form 1099-INT in TurboTax Online:

  1. If you don’t see 2022 TAXES in the left pane, select the dropdown to the right of Income & Expenses on the Hi, let’s keep working on your taxes! page and then select Let’s get startedPick up where you left off, or Review/Edit. 
    • Otherwise, in the left pane, select Federal, then Wages & Income (This is labelled Income & Expenses in TurboTax Self-Employed)
  2. Scroll down and select the Show more dropdown to the right of Investments & Savings 
  3. Select  Start or Revisit to the right of Interest on 1099-INT
  4. Select  Yes on the Did you receive any investment income? screen, then select Continue
    • If you see either the Your investments & savings or Here's your 1099-INT info screen, select Add investments or Add another 1099-INT as appropriate, then select Continue
  5. On the  Let's import your tax info screen, select Enter a different way
  6. On the  OK, let's start with one investment type screen, select Interest, then Continue
  7. On the  How would you like to upload your 1099-INT? screen, select Type it in myself
  8. Type in all available information

Please see the TurboTax Help article What if I didn't get a 1099-INT from my bank? for an alternate entry procedure.

*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

The only items you need for 1099-INT are 

  • Payer
  • amount
pawli
New Member

*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

I think the *only* thing I needed to hear, that you or the other response did not say, was: Put your interest in the box that says Box 1 - Interest income; *even though there is no Box 1 in existence*

pawli
New Member

*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

(for anyone following with the same concerns)... Except "enter available information" also isn't enough because without the 1099 INT, you won't have your banks FEIN. Turbotax will, eventually, throw a warning if it's not there. So you will also have to go get that information form your bank and enter it.

*HOW* do I report my bank income interest into turbotax with no 1099-INT (under 10$)? There seems to be no path that does not include entering 1099 info.

All you need to enter is the bank name or who paid you and put the amount in box 1.  You don't need the EIN or anything else.

 

Enter interest received like a 1099-Int under

Federal Taxes tab

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

 

Put the interest amount in box 1

 

Don't enter the bank name and don't try to import it.  

It is just as fast and easy to manually enter it.  When you enter a 1099 the first screen is How to Enter, by Import or Enter it Myself. Scroll down and click the last circle to enter it myself.

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