TurboTax has reported interest income received without a 1099-INT in two places so it's taxed twice. How should this be done to avoid the problem?

[heinelg]

I received interest income without 1099-INT. I added it as Miscellaneous Income with a description "Personal Loan Interest". Turbotax included that amount with the interest reported on 1099-INT (not a problem) but also included the total on Schedule 1, Line 21. This results in that income being taxed twice. How should this interest be reported to avoid this?

[TomK · Accepted solution]

Delete the Miscellaneous Income entry.

To enter interest income (without a 1099-INT):

1. Open your return (if not already open).
2. Click on “Take me to my return” if applicable.
3. Search for "1099-int" in the Search box.
4. Click on the “Jump to 1099-int” link.
5. Arrive at the Let's get your 1099-INT or brokerage statement details page.
6. Enter source of income in the Received from field.
7. Enter interest income in the Box 1 - Interest income field.

[heinelg]

Thanks!