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New Member
posted Jun 1, 2019 12:43:46 PM

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

1 9 1695
9 Replies
Level 15
Jun 1, 2019 12:43:47 PM

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?"

New Member
Jun 1, 2019 12:43:49 PM

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.

Level 15
Jun 1, 2019 12:43:50 PM

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)

New Member
Jun 1, 2019 12:43:51 PM

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.

Level 15
Jun 1, 2019 12:43:51 PM

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.

Level 15
Jun 1, 2019 12:43:53 PM

Solved by user.  See above discussion.

Returning Member
Aug 17, 2019 10:11:58 PM

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

Returning Member
Aug 17, 2019 10:14:26 PM

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

Level 15
Aug 18, 2019 12:36:08 AM


@ 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)?