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Level 2
posted Sep 27, 2023 1:58:13 PM

Interest Income

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

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2 Replies
Employee Tax Expert
Sep 27, 2023 2:00:19 PM

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

Employee Tax Expert
Sep 27, 2023 2:02:26 PM

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:

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

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