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Level 1
posted Mar 24, 2023 6:16:07 AM

I have interest from a High-Yield savings and a CD from the same bank.1099-INT only shows the High Yield savings interest. Do I add the CD interest to this?

Or should I create a new entry?

0 3 1276
3 Replies
Expert Alumni
Mar 24, 2023 6:37:18 AM

No, don't add the CD interest to your 1099-INT form or create a new entry. See the suggestions below:

  • Your bank should give you a separate 1099-INT form if it's not on your high yield savings account 1099-INT form.
  • Verify the year that you received the CD interest. Generally, the CD interest is paid at the end of the CD term. Perhaps that interest was not paid until 2023.
  • Check your CD interest account on your bank's online webpage. You may be able to print a copy of your 1099-INT CD interest.
  • Contact your bank to see how you can access your 2022 1099-INT Form for your CD interest.

If you can verify that you in fact received that interest in 2022, create a new 1099-INT for the CD interest. To enter your 1099-INT form, click here.

Level 15
Mar 24, 2023 9:54:29 AM

contact the bank to find out why no 1099-INT on cd.

Level 1
Mar 24, 2023 11:10:19 AM

Thanks all. I already know why I did not receive a 1099-INT for the CD - I had less than $10 in interest for it. I will go ahead and create a separate entry in turbo tax, using the sum of the interest from my CD as reported in my 2022 statements.