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How do I report taxable interest if no 1099-Int received? Death benefit includes taxable interest. Insurance co does not send out 1099-Int unless taxable interest is>$600

Father-in-law passed away in 2023.
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Accepted Solutions
LeticiaF1
Employee Tax Expert

How do I report taxable interest if no 1099-Int received? Death benefit includes taxable interest. Insurance co does not send out 1099-Int unless taxable interest is>$600

Although you didn't get a 1099-INT, to report the interest in the 1099-INT section see the following instructions:

 

TurboTax Online

  1. Open or continue your return.
  2. Search 1099-INT or 1099INT (lowercase also works).
  3. Select the Jump to link.
  4. Answer Yes to Did you have any interest income?
    • If you see Your investments and savings, select Add Investments or select Edit next to the correct 1099-INT.
  5. On the Let's import your tax info screen, select Enter a different way.
  6. Select Interest 1099-INT and Continue.
  7. Select Type it in myself.
  8. On the next screen, input the required information and select Continue.
  9. At Do any of these uncommon situations apply?, select the appropriate answer and Continue.

TurboTax Desktop

  1. Open or continue your return.
  2. Select Federal Taxes, then Wages & Income.
  3. Select I'll choose what I work on.
  4. Next to Interest on 1099-INT, select Start.
  5. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income or select Edit next to the correct 1099-INT.

View solution in original post

1 Reply
LeticiaF1
Employee Tax Expert

How do I report taxable interest if no 1099-Int received? Death benefit includes taxable interest. Insurance co does not send out 1099-Int unless taxable interest is>$600

Although you didn't get a 1099-INT, to report the interest in the 1099-INT section see the following instructions:

 

TurboTax Online

  1. Open or continue your return.
  2. Search 1099-INT or 1099INT (lowercase also works).
  3. Select the Jump to link.
  4. Answer Yes to Did you have any interest income?
    • If you see Your investments and savings, select Add Investments or select Edit next to the correct 1099-INT.
  5. On the Let's import your tax info screen, select Enter a different way.
  6. Select Interest 1099-INT and Continue.
  7. Select Type it in myself.
  8. On the next screen, input the required information and select Continue.
  9. At Do any of these uncommon situations apply?, select the appropriate answer and Continue.

TurboTax Desktop

  1. Open or continue your return.
  2. Select Federal Taxes, then Wages & Income.
  3. Select I'll choose what I work on.
  4. Next to Interest on 1099-INT, select Start.
  5. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income or select Edit next to the correct 1099-INT.

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