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hkgal
New Member

If my 1099-INT says line 8 (tax exempt interest) includes line 9 (specified private activity interest) but Turbotax adds them together, what should I do?

Turbotax has entries for Line 8 and Line 9, but if I enter the numbers from my 1099-INT they are added together--even though Line 8 already includes Line 9.  The tax exempt interest comes from multiple states, and my form doesn't show where the $500 of Line 9 comes from. 

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1 Best answer

Accepted Solutions
Anita01
New Member

If my 1099-INT says line 8 (tax exempt interest) includes line 9 (specified private activity interest) but Turbotax adds them together, what should I do?

The only place I see them added together is on the income summary and that does't matter, it's just showing you that you've already entered income there.  It' not added together anywhere in your return.  You may have a supplemental form telling you the source of the income. You don't really need to know where line 9 comes from, because it's included in 8 and will be allocated to states as you do that for the line 8 amounts.

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1 Reply
Anita01
New Member

If my 1099-INT says line 8 (tax exempt interest) includes line 9 (specified private activity interest) but Turbotax adds them together, what should I do?

The only place I see them added together is on the income summary and that does't matter, it's just showing you that you've already entered income there.  It' not added together anywhere in your return.  You may have a supplemental form telling you the source of the income. You don't really need to know where line 9 comes from, because it's included in 8 and will be allocated to states as you do that for the line 8 amounts.

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