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nicole291
New Member

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 Reply
RayW7
Expert Alumni

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

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.

 

 

 

 

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