Enter the interest that you received as if you got a 1099-INT, even though you didn't. All you have to enter is the payer's name (your friend's name) and the amount of interest in box 1. TurboTax will put it on the appropriate forms. It will be included in the total taxable interest on Form 1040 line 2b.
Enter the interest that you received as if you got a 1099-INT, even though you didn't. All you have to enter is the payer's name (your friend's name) and the amount of interest in box 1. TurboTax will put it on the appropriate forms. It will be included in the total taxable interest on Form 1040 line 2b.
Thank you! Do you know if TT will get me 1099-INT that I can send to my friend? Any other steps I should take to get all covered?
You do not send a 1099INT to your friend. You would get a 1099 from the person paying you interest like your bank. But individuals don’t send 1099 forms. All you need to enter is the bank name or who paid you and put the amount in box 1.
Enter interest received like a 1099-Int under
Federal Taxes tab (Personal for Home & Business)
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
Put the interest amount in box 1