I use TurboTax Home and Business 2024 desktop version for Windows.
I need to override a line of text on schedule B, i.e. Under Part I - Interest, the line Nominee Distribution. I like to add supplemental information on that line and won't be changing the figures in the amount column. When I go to Forms, Schedule B and right click on the line, the Override is grayed out and TurboTax won't let me override it.
In contrast, TurboTax allows me to do this exact thing in Part II - Ordinary Dividends on Schedule B. When I click on the line Nominee Distribution, I am able to edit the line and append supplemental text.
How do I get TurboTax to allow me to edit the Nominee Distribution line in Part I - Interest section?
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We have recently reported an issue with the ability to enter "additional details" in some areas of Home and Business and referred it for investigation.
You should be able to adjust interest on Form 1099-INT due to a nominee distribution in the interview for that item. See screenshot below:
The Learn More link mentions nominee interest as an item that can be adjusted. The follow up screen allows you to enter the amount of the adjustment and select that you received an amount as a nominee.
Thank you for your reply, but your answer does not address the issue I am facing.
We did refer the issue of not being able to add "additional details", in many of the Forms, for further investigation. We don't have an estimated resolution date as yet.
You can adjust interest for a nominee distribution in Step by Step mode. Please clarify if there is another issue.
I'm having the same issue in TurboTax Deluxe Mac Desktop. The issue isn't entering the adjustment in step by step. Rather we are required to change the "Nominee Distribution" to, in my case, "Form 1041 Joe Blow Estate [TIN]"
I can do that in the Dividend section but not in the Interest section.
Also BTW I entered the adjustment in all 3 1099-Divs on the return but only the 1st adjustment is flowing to the Schedule B. I was able to override with the correct total.
This needs to be fixed for anyone filing for a deceased individual with income split between 1040 and 1041 returns.
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