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onyonhed
New Member

I am trying to enter nationwide life 1099-int but it won't take it

doing turbo tax free
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4 Replies
rjs
Level 15
Level 15

I am trying to enter nationwide life 1099-int but it won't take it

What exactly do you mean by "won't take it"? Are you on the screen that says "Let's get your 1099-INT or brokerage statement details"? What happens when you enter "Nationwide Life" in the "Received from" box, and the amount of interest in Box 1? If you get an error message, what is the exact message?


How to enter a Form 1099-INT

 

JotikaT2
Employee Tax Expert

I am trying to enter nationwide life 1099-int but it won't take it

You probably need to upgrade from TurboTax Free.  This version can only be used for W-2 Wages and Earned Income Credit calculation.

 

Additional forms are required to report Interest income that are not included in the free version.

 

You can upgrade by using the link below.

How to upgrade levels in TurboTax

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I am trying to enter nationwide life 1099-int but it won't take it

@ onyonhed 

Whether or not you have to upgrade to report the 1099-INT depends on the amount of your taxable income or dividends.   Free Edition can handle interest income without an upgrade unless you received more than $1,500 in taxable interest or dividends.    More than $1,500 would require Schedule B, which is not present in Free Edition.   So it depends on the amount of your taxable interest or dividends.

 

When you get to the 1099-INT section, you will see a screen called "Lets import your tax info" with a lot of financial logos and a search line for your financial institution.    Just ignore that screen.   That's only if you want to import the 1099-INT, and not all institutions are import partners.  Plus it's faster to just enter the 1099-INT manually anyway.    So leave the financial institution search line blank and do not select a logo.  Instead, way down in the lower right corner of that screen (scroll down) is a gray button "I'll type it in myself."   Click that, and on a subsequent screen you can manually type in the institution name and the data from your 1099-INT.

 

On a subsequent screen where you enter your 1099-INT data, if you have data in boxes other than Box 1 or Box 3 of your 1099-INT, there is a place to checkmark "My form has info in other boxes", which will get additional data fields to appear.

I am trying to enter nationwide life 1099-int but it won't take it

@ onyonhed 

I edited my comment above to provide some additional info, but you may have been emailed the original comment.   If the amount of your taxable interest or dividends is more than $1500, you would need Schedule B which is not in Free Edition and would require an upgrade to Deluxe (or the other free product I'll mention below.)   If you have less than $1500 in taxable interest or dividends, you should be able to enter them in Free Edition.   Please return to the forum to see the full information.

 

If it turns out that you cannot use the regular Free Edition due to the amount of interest/dividends, there is another option.   There is another free product--TurboTax IRS Free File Program--which has no such limitations and which you may be able to use if you meet one of the qualifications.   We can tell you more info about that other free product if it comes to that.

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