Interest Income

2 replies
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Is there a section on the tax software to report interest income from the IRS?

Ask the Experts - Extension - Sept 2023

evelynm

Employee Tax Expert

Hello:

Detailed steps are in the link below - the interest income tab is under investments and savings:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-form-1099-int/L647oy31F_US_en_US?uid=ln28bkrc

Have an amazing day. Evelyn M (CPA 20+ years). I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer".

Tanisha EA

Level 2

Hi SMK11!

Form 1099-INT reports interest from banks, brokerages, and other financial institutions including the IRS. This interest is entered like other types of interest income. Here's how to enter a 1099-INT:

Sign in to your TurboTax account and open or continue your return
Select Federal from the menu, then Wages & Income
Locate the section titled Investments & Savings and select Show More, then select Start or Revisit next to Interest on 1099-INT