more than 20 1099-INT

Hi,

If I have more than 20 1099-INT (all are bank interest or new account bonus) I am learning today that IRS doesn't allow e-file! Is this true?

Would IRS reject if I e-file by combining some of the 1099-INT amounts to stay under the limit of 20?

For example, my spouse and I both have a 1099 from Bank A and Bank B

As I am doing joint filing, can I combine me + spouse the 1099-INT totals for Bank A ?

Or should I combine 1099 INT of Bank A (mine) + Bank B (mine) ?

Many thanks!

889

Level 15

Oct 14, 2021 12:49:30 PM

You can combine them if you like ... only the total will show up on the return anyway.

Level 2

Oct 14, 2021 1:04:35 PM

@CR Thank you

Combining which way pls?

Can I combine me+ spouse for the same bank?

I believe you are referring to Schedule B on which each 1099-INT issuer's name and total only will be reflected so the granular details don't matter, am I correct?

Just curious, Why does Turbotax asks details of 1099-INT such as Payer TIN, Who it belongs to etc to be entered?

Level 15

Oct 14, 2021 1:06:16 PM

Any way you see fit ... and the EIN is NOT required.

Why sign in to the Community?

more than 20 1099-INT