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Returning Member
posted Mar 9, 2025 8:19:31 AM

Why does my 1040 interest exceed the total of 1099-INTs?

After importing all of our brokerage account 1099 DIVs and 1099 INTs  the  Form 1040 line 2b  (taxable interest) total vastly exceeds the total of my 1099 INTs. I do not believe there is any other interest that should be included in this amount such as from K-!s. What could I be missing? The import seems to accurately reflect the forms.

 

I had previously mistakenly posted this in the retirement forum.

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1 Replies
Employee Tax Expert
Mar 16, 2025 10:11:46 AM

It sounds like some of the interest income entries may have been duplicated.  I recommend reviewing the input in each section in detail and manually deleting the duplicated interest income.

 

Follow these steps to get to the 1099-INT input screen.

 

Once there, select Add/Edit to the right of Investments and Savings, (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto).  

  1. Scroll down to view your interest income listed.
  2. Select the arrow to the right of the input to pull up more options.
  3. Select the trash can on the duplicated income in this section to remove it.