The 1099-INT is not adding up and its showing incorrect amount. When i try to edit, it shows correct entries but incorrect total amount.

Forum|Forum|7 years ago
June 1, 2019
4 replies
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TurboTax Deluxe Online

Best answer by SteamTrain

There is a bug with a hidden/Ghost...<Untitled > 1099-INT form....but as far as I know, only for those using the Online software..

The way you get around it and get rid of it is to delete the entire Schedule B...that deletes even the hidden/ghost form, along with any 1099-INT, -DIV and -OID form you actually intended to enter.

Once the Sched B is gone, then you can re-enter your 1099-INT, -DIV (and -OID forms if any) to re-initiate the proper ones.

________________________

Users who have 1099-INT and 1099-DIV forms will need to re-enter all of the information from all 1099-INT and 1099-DIV forms after deleting the Schedule B.

Log in to your TurboTax Online account
Click Take me to my return
Select Tax Tools from the left hand column
Click Tools
Click on Delete a form
Select Delete next to Schedule B
Confirm Delete Selected Form
Scroll to the bottom and Click Continue With My Return
Select Federal from the left hand column
Under Wages & Income, click Interest and Dividends
Select Start on 1099-INT and/or 1099-DIV (and/or -OID) and re-enter all of your interest and dividend income

SteamTrain

Level 15

The total on the summary/menu page includes boxes 1, 3 & 8 too. (also any forms K-1 have entries that can can add into it).

There are also box values that can reduce the amount...but depends on which box was used. boxes 11, 12, & 13 are treated differently...as is accrued interest.
_______________________
IF it is showing way-over the proper amount..there is a possible bug you've hit upon.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

ruchigaurav2019Author

Level 2

Yes, it showing close to double the interest i have gotten

ruchigaurav2019Author

Level 2

I also deleted my entries for interest in hope that i would show $0 but it still showed be some random amount of $2400 ..

SteamTrainAnswer

Level 15

There is a bug with a hidden/Ghost...<Untitled > 1099-INT form....but as far as I know, only for those using the Online software..

The way you get around it and get rid of it is to delete the entire Schedule B...that deletes even the hidden/ghost form, along with any 1099-INT, -DIV and -OID form you actually intended to enter.

Once the Sched B is gone, then you can re-enter your 1099-INT, -DIV (and -OID forms if any) to re-initiate the proper ones.

________________________

Users who have 1099-INT and 1099-DIV forms will need to re-enter all of the information from all 1099-INT and 1099-DIV forms after deleting the Schedule B.

Log in to your TurboTax Online account
Click Take me to my return
Select Tax Tools from the left hand column
Click Tools
Click on Delete a form
Select Delete next to Schedule B
Confirm Delete Selected Form
Scroll to the bottom and Click Continue With My Return
Select Federal from the left hand column
Under Wages & Income, click Interest and Dividends
Select Start on 1099-INT and/or 1099-DIV (and/or -OID) and re-enter all of your interest and dividend income

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

gregorym13

Level 2

Well here we are in March of 2021 and the same problem is still occuring. I spoke a customer service rep today who forwarded me this link. She blamed the the fact that I downloaded the data. I started the whole **bleep** return over again, manually inputting the dividend income and get a number that again is 33% too high. So much for their customer service help. I wonder how many people have been screwed over by this bug.

GCD1

Level 2

I have the same, or a similar, problem: 1099-DIV data is correct for the individual 1099s, but the total on TurboTax's 1099-DIV summary page is wrong. !!!#$@&!