For some reason perhaps because my refund was so late?.. I got a statement of interest income from the IRS for 2021 showing about 18 bucks. I think my daughter got one too ...she lives with us. It says it's not a tax bill but I'm guessing I probably have to pay tax on this interest where do I enter that in TurboTax?
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You enter the interest in TurboTax the same as a 1099-INT from a bank. For the payer's name enter Internal Revenue Service, and enter the amount of interest in box 1. That's all you have to enter.
To enter it, type 1099-int in the Search box, then click the link that says "Jump to 1099-int."
Your daughter should enter her interest on her own tax return, the same way.
yes, that's the reason. the interest is reported on line 1 of the 1099-INT. it is not US interest exempt from state taxes if you live in a state with income taxes.
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