I have income tax deduction in Box 4 of 1099-Int Question : Should I deduct the tax from interest in that section or TurboTax will add it total Income Tax paid?

kdpukp · ‎April 8, 2024

If Income Tax is paid for interest earned, should I deduct the tax amount from interest? Or report full interest because Tax amount will be added in total Income tax?

DawnC · ‎April 8, 2024

No, enter your 1099-INT exactly like it is. TurboTax will not add Box 4 to income. You have to mark the box that says 'My form has information in more than Box 1' to see the Box 4 entry field.

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

Expert does your taxes

Do it yourself

Resources

Support

I have income tax deduction in Box 4 of 1099-Int Question : Should I deduct the tax from interest in that section or TurboTax will add it total Income Tax paid?

I have income tax deduction in Box 4 of 1099-Int Question : Should I deduct the tax from interest in that section or TurboTax will add it total Income Tax paid?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

I have income tax deduction in Box 4 of 1099-Int Question : Should I deduct the tax from interest in that section or TurboTax will add it total Income Tax paid?

Do you have an Intuit account?

I have income tax deduction in Box 4 of 1099-Int Question : Should I deduct the tax from interest in that section or TurboTax will add it total Income Tax paid?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert