3012544
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

myron007
New Member

Where is tax exempt interest entered on form 1040

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Where is tax exempt interest entered on form 1040

On Form 1040, Line 2A  

On TurboTax: Federal Taxes-> Wages and Income -> 1099 Int-> Box 8

Where is tax exempt interest entered on form 1040

It's reported on line 2a of Form 1040

 

To enter tax exempt interest -- whether it's on a Form 1099-INT or not -- in TurboTax Online:

  1. If you don’t see 2022 TAXES in the left pane, select the dropdown to the right of Income & Expenses on the Hi, let’s keep working on your taxes! page and then select Let’s get startedPick up where you left off, or Review/Edit. 
    • Otherwise, in the left pane, select Federal, then Wages & Income.  (This is labelled Income & Expenses in TurboTax Self-Employed)
  2. Scroll down and select the Show more dropdown to the right of Investments & Savings 
  3. Select  Start or Revisit to the right of Interest on 1099-INT
  4. Select  Yes on the Did you receive any investment income? screen, then select Continue
    • If you see either the Your investments & savings or Here's your 1099-INT info screen, select Add investments or Add another 1099-INT as appropriate, then select Continue
  5. On the Let's get the info from your 1099-INT screen, select the box to the left of My form has info in other boxes (this is uncommon)
  6. Enter your tax-exempt interest in Box 8.  Select Continue
  7. Enter any appropriate information on the following screens
LindaS5247
Expert Alumni

Where is tax exempt interest entered on form 1040

If you receive a Form 1099-INT, you'll need to include the amount shown in Box 1 on the “taxable interest” line of your tax return. Report any tax-exempt interest shown in Box 8 of the 1099-INT on the “tax-exempt interest” line of your tax return.  The total would be entered on line 2a of your Form 1040.

 

 

You can enter Tax Exempt Interest by following these steps in TurboTax:

  1. In your Income Section
  2. Enter 1099-INT,
  3. Select Jump to 1099-INT,
  4. Select Edit  next to the 1099 you want to add tax exempt interest to or select
  5. Add to add a new 1099-INT,
  6. Select My form has info in other boxes,

 


 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question