manually enter 1099 interest

[clagodich]

I can't manually enter 1099 interest in Intuit Turbo Tax Premier 2024. When I click on "Interest to 1099-INT", I'm am taken back to "Let’s finish pulling in your investment income". I've checked for updates and restarted my computer.

[VolvoGirl]

For 2024 Desktop. I don't like how to enter Interest, Dividends, Sales etc. Too many clicks and screens to click on and go through. There is no table on the screen (except in Forms) and you have to click though several screens to add more. And after I manually entered 3 interest it didn't ask if I wanted it to stop asking to import. Oh and Interest, Dividends and Sales are listed in the same list on the screen alphabetically. If I go to Interest I only want to see Interest!

You can switch to Forms Mode and enter them directly into Schedule B using the Interest Income Smart Worksheet. But then they won't show up in the Step-by-Step list.

To enter more  you have to almost start completely over.

So go to the bottom and click on +Add Investments
Then to Import enter the bank or financial institution in the search box
Then double click on the item below

OR to manually enter, don't enter the bank name and click Skip Import at the bottom

THEN....should be a screen with 5 boxes, Interest, Dividends, Stocks, Bonds, Mutual Funds, Cryptocurrency and Other.

If you transferred from last year you get to a list of all your 1099s. To enter the amount click on Review which takes you to the beginning screen to import your tax info or go to the bottom and Skip Import. Then you get the screen with 5 boxes. Pick the kind of 1099 and Continue. Then that 1099 will show up.

[Winde1024]

The five boxes show up on mine but my 1099s from last year do not appear and I cannot find a way to access them to enter manually. But it did ask me earlier if I had income from those places so the information is there somewhere. I also have 1099s for places not on the list and in the past it would take you to a window to add them. The Add Investments button did not do this either.

[medlockTodd]

I see the 5 boxes also.   However,  I am following the instructions on how to add interest information when NO 1099-int was sent by the bank (my interest was less than $10)  The instructions say I should see "i"ll type it in myself" .   But I never see that.    I  select the  box that says "interest paid from bank or investment account 1099-int"  then I see "let's get the info from your 1099-int".     There is   No  "I'll type it in myself".    So I put the bank name in "Payer's information"   and the interest amount in "box 1 -Interest income".     just to see if that would work.       That seemed to work.     But I feel very uneasy about this. 

[JohnB5677]

Please start from line 5.

If this is the first time entering investments

1. Select Wages & Income
2. Scroll to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
3. Did you have investment income in 2024? Yes
4. A list of Financial Institutions will come up
5. Five boxes will come up
6. Select the 1099 you have - Continue
7. How would you like to upload your 1099-INT?
8. Scroll down. Select [Type it myself]
9. post your 1099-INT

If you entered a 1099-INT previously

1. Select Wages & Income
2. Scroll to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
3. [Add/Edit]
4. The screen will show previous entries
5. Select a previously entered record or
6. [+ Add investment]

@medlockTodd 

[kindlib]

Yes it is an insane pain for things like T-bills.   There is no import option.   You get a separate 1099-INT for each transaction and it is SO MANY clicks to enter each one.   No way to automate.  Turbo Tax made it way too many clicks to enter the data this year.   

[BrittanyS]

There is an import option for the 1099-INT.  To import in TurboTax, follow the steps below:

1. Sign in to TurboTax
2. Click Wages and Income
3. Click Start next to Investments 1099-INT
4. Click Add Investment
5. You will receive let's import your tax info (see screenshot below)

@kindlib 

[kindlib]

Unfortunately the TreasuryDirect does not have an import option configured. 

@BrittanyS 

[Anon43]

@VolvoGirl You nailed it in the last paragraph, but at first I didn't get it, because it is so counterintuitive the way TurboTax set up.

So when you hit Skip Import and it takes you back to the options, it looks like you are back to square one. But you hit the option again, and magically your Bank or Stock Name is filled out. 

Hope TT fixes this for next year, and thanks again for responding with your answer.

[Anon43]

That said, problems remain.

Stock Dividends and Bank Interest sections are all mixed up into one.
One bank from last year shows "Dividend" instead of "interest," rest of bank names are blank. 

GLITCH, making an easy chore laborious and frustrating this year.