Since you are a sole proprietorship, report the interest from the 1099-INT on the personal side of the return--1040, line 8.
To enter the interest in TurboTax, please follow these steps:
- Click on Federal Taxes >
Wages & Income [In TT Self-Employed: Personal >
Personal Income > I'll choose what I work on].
- Scroll down to the Interest and
Dividends section and click on the Start/Revisit box next to
Interest on 1099-INT [See Screenshot #1, below.]
- If you haven't already
entered interest, continue through the screens, entering the requested
information.
- If you have already entered
interest, you will see a screen Here's the interest we have so
far. Click on the Edit box next to check entries you've
already made. OR click on the Add interest income link to
make a new entry. [Screenshot #2]
- You can choose to import your bank
or brokerage statement or choose I'll type it in myself.
- Enter your interest on the next
screen -- Let's get your 1099-INT or brokerage statement details.
[Screenshot #3]
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