You enter it as if you had received a 1099-INT.
Wrong answer. Software finds errors if you don't enter Federal Identification Number (FEIN) which you don't have if you didn't receive a 1099-INT. Why can't this simple thing be built into the software?
You do need to report your Interest Income.
If you did not receive a 1099-INT for Interest income, it is because the amount reportable was under $10 and the institution was not required to issue a 1099-INT Form.
You will enter your Interest income (which you should be able to find on your last statement of the year from your institution) as follows:
You do not have to have a Federal Identification Number (FEIN) to report your interest income.
I searched for my bank's FEIN and used that. I don't know what I did wrong because it wouldn't let mine go through without the FEIN. It kept flagging it as an error.
None of the answers on TurboTax address the issue that TT wants information from a 1099-int to complete the process. Asking "enter the amount from box 1" when we don't have a 1099 in the first place isn't helpful. How do we enter interest income that doesn't have a 1099 or EIN???
You can enter it as other income.
Click Federal
Click Wages and Income
Scroll to the bottom and click Show more under “Less Common Income”
(you may need to answer Yes/No questions and/or click “All income” first)
Scroll to the bottom “Miscellaneous Income, 1099-A, 1099-C" and click Start
Scroll to the last choice “Other reportable income” and click Start
Enter “Earned Income" as the description and the amount and Continue
Click Done on the next page
This puts the income on Schedule 1 line 8 and flows to your 1040 line 7a
So for example, Robinhood sent me my 1099 but the amount I reported on is 9.64. I shouldn't have to disclose that form then. Sounds to me this just a way of getting people to pay 80 dollars for Premier when you could potentially file for free...
Trading through Robinhood is Capital Gains (or loss) not interest.
Thank you so much I appreciate this. It helped me so much I used this information to file my taxes.
How do I report a bank that did not provide me a 1099? I received over 10$ in interest but never received a 1099 and they claim I will not ever get one.
You can report the income the same way as if you received a 1099-INT.
To enter the interest income please follow the steps listed in the link: Where do I enter Form 1099-INT?
I would like to know where to report a business that didn't provide a 1099 even though they were legally required.
If you have not received an expected Form 1099 by a few days after January 31st, contact the payer. If you still do not get the form by February 15, you may call the IRS for help at 1-800- 829-1040. In some cases, you may obtain the information that would be on the 1099 from other sources.