New Member

posted Mar 29, 2022 9:12:40 AM

Is prepaid funeral interest income taxable and how do I enter it when I don't see it as an option?

0

1

2019

1 Best answer

Level 15

Mar 29, 2022 9:16:04 AM

The interest is taxable (not tax exempt).

See https://ttlc.intuit.com/community/business-taxes/discussion/i-have-to-claim-gross-taxable-income-from-a-prepaid-funeral-trust-where-do-i-list-the-interest/00/449036

1 Replies

Level 15

Mar 29, 2022 9:16:04 AM

The interest is taxable (not tax exempt).

See https://ttlc.intuit.com/community/business-taxes/discussion/i-have-to-claim-gross-taxable-income-from-a-prepaid-funeral-trust-where-do-i-list-the-interest/00/449036

TurboTax Deluxe Online