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dimis2021
Returning Member

Interest paid from IRS

I received some interests paid from IRS. Where to report it in turbo tax, 1099-INT or Other Income? It’s a letter from IRS showing the interest income amount, not a 1099-INT form though. 

 

Thanks! 

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2 Replies
LenaH
Employee Tax Expert

Interest paid from IRS

The IRS will only send you a 2020 1099-INT if you were paid more than $10 in interest. However, you are required to report all interest received during the year and should do so via the 1099-INT screen. 

 

You can follow these steps in TurboTax to enter interest received:

  1. Open your tax return in TurboTax.
  2. Search for 1099-INT with the magnifying glass tool on the top of the page.
  3. Select the Jump to 1099-INT in the search results to go directly to the section to report your interest income.
  4. Click on Add a 1099-INT. 
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dimis2021
Returning Member

Interest paid from IRS

Thanks! 

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