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Sammy1
New Member

My interest entry doesn't add up to the sum per TurboTax

 
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9 Replies

My interest entry doesn't add up to the sum per TurboTax

You'll need to explain that more.
Interest from 1099-INT's, K-1, or what?    And what are you experiencing by "doesn't add up?"
Sammy1
New Member

My interest entry doesn't add up to the sum per TurboTax

Interest from 1099-INT. I have ~$200, but sum shows up as ~$400. Even when I delete the 1099 form (there is only one), I have ~$200 in interest income show up on the summary page.

My interest entry doesn't add up to the sum per TurboTax

Try this:

With your return open, click in the left menu column on TAX TOOLS, then TOOLS.
In the Tools window, choose "Delete a form."
That will show you the forms in your return.

In that list do you see a 1099-INT you don't recognize?   It may say something like Schedule B - Form 1099-INT (untitled)
Sammy1
New Member

My interest entry doesn't add up to the sum per TurboTax

No, there wasn't. I ended up deleting the entire schedule B and re-importing everything and that worked. Seems like a software glitch. Very concerning that TB has this problem.

My interest entry doesn't add up to the sum per TurboTax

If you deleted the Schedule B, then be sure you re-enter everything that might have been on it:  1099-INT, 1099-OID, 1099-DIV,  K-1 interest.  Whatever your situation is.

My interest entry doesn't add up to the sum per TurboTax

Solved by user.  See above discussion.

joybliss
Returning Member

My interest entry doesn't add up to the sum per TurboTax

 Yes my interest income is $4676.29 and turbo tax is saying it is $4700.00????

joybliss
Returning Member

My interest entry doesn't add up to the sum per TurboTax

actually says $4703.00??  why would it not total correctly?

My interest entry doesn't add up to the sum per TurboTax


@ joybliss wrote:

actually says $4703.00??  why would it not total correctly?


You're posting in the middle of someone else's old already-answered thread when it's normally best to start your own new thread to avoid confusion and where it would have more visibility.  I happened to see it, however.   

 

You said that your interest income is $4676.29 and that turbo tax is saying the total is $4703.00.

There are a couple of possibilities:

TurboTax is either picking up another approx. $27 in interest on some worksheet somewhere, or it could have been a typo, transposed digits, etc., when entering your data.    Did you enter your documents manually, or did you import them from financial institutions?

 

Is this all 1099-INT interest?  Do you have multiple forms 1099-INT?   Be sure all the figures are entered correctly without typos.    And do you have any other interest such as on a K-1 or 1099-OID?

 

If you have confirmed the entries are correct without typos, we can tell you how to investigate to see if you can find a clue as to where the additional $27 might be coming from.   Are you using Online TurboTax or desktop software (CD/download)?

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