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New Member
posted Feb 1, 2021 1:21:38 PM

Turbo not allowing me to enter capital one for interest income thanks in advance

Turbo not allowing capital one as an option for interest income, and advice appreciated

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1 Replies
Expert Alumni
Feb 1, 2021 1:41:02 PM

There may be some financial institution's that are not available for import. 

 

If it's not on the partner's list, go to your CapitalOne360 online account and pull up/print out the 1099-INT and just enter it manually into TurboTax. 

 

 

When you receive a 1099-INT, you’ll need to understand what each box of the form is reporting, so that you can report your interest on the appropriate lines of your tax return:

  • Box 1 of the 1099-INT reports all taxable interest you receive, such as your earnings from a savings account.
  • Box 2 reports interest penalties you’re charged for withdrawing money from an account before the maturity date.
  • Box 3 reports interest earned on U.S. savings bonds or Treasury notes, bills or bonds. However, some of this may be tax-exempt.
  • Box 4 reports any federal tax withheld on your interest income by the payer.
  • Box 8 relates to interest-bearing investments you hold with state and local governments, such as municipal bonds.