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posted Feb 7, 2020 8:04:59 PM

I have two numbers for my interest income. What number do I enter?

I have two numbers for my interest income. The two numbers add up to how much interest I made. Which one number do I put down?

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3 Replies
Expert Alumni
Feb 7, 2020 8:18:25 PM

enter the total

Level 15
Feb 7, 2020 8:18:27 PM

@jess-lynn-johnso  did you get  two 1099-INT or just bank statements ?  If these are two separate  1099-INT, you must enter  both separately  --- TurboTax does allow that.  This is more work but the Automatic Under-Reporter  (AUR )  program in IRS will want to see entries for each 1099-INT or may send you a notice of under-reporting.  ( CP2000 ).

 

Does this answer your question? 

Level 2
Feb 7, 2020 8:40:34 PM

@pkis correct.   If this interest is, perhaps from 2 savings accounts at the SAME bank and it came in on the SAME form, you could combine the interest.  If the interest reported is on separate forms, report it separately. It's easier bookkeeping for everyone. Good luck!