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adaliu1122
Returning Member

Why has interest been doubled in tax return?

I have $304 interest from bank and $70 from IRS, now in tax return line 2b, shows 678, which means 304*2 70=678. the app throught the wrong information.
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4 Replies
KrisD15
Expert Alumni

Why has interest been doubled in tax return?

Please look at the source of the entries. 

 

Desktop, switch to Step-by-Step

Go to Income (or Wages & Income)

Scroll down to "Interest and Dividends"

Click on the blue amounts to see the source for Desktop

Click Add/Edit for Online 

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
adaliu1122
Returning Member

Why has interest been doubled in tax return?

Thanks Kris. where can I find find the "Desktop"? so that I can "switch to Step by Step"? thanks 

JohnW152
Expert Alumni

Why has interest been doubled in tax return?

You appear to be using the Online version of TurboTax, and you can’t do step-by-step in the Online version.  KrisD15’s first four lines of direction apply to a TurboTax Desktop version.

To edit or delete your interest income in TurboTax Online:

  1. If you’re on the Hi TurboTax Client, let's keep working on your taxes! screen, click the Pick up where you left off button
  2. Click Federal in the left pane, if you’re not already there
  3. Click Income & Expenses in the banner
  4. Click Show more to the right of Investments and Savings
  5. Click Revisit to the right of Interest on 1099-INT
  6. Scroll down the Your investments and savings page until you see fields with Interest (1099-INT) listed.  You’ll be able to edit or delete those, as necessary
adaliu1122
Returning Member

Why has interest been doubled in tax return?

Thanks for the instructions. Since I had uploaded my investment statements to the app, the app grabbed the 1099-int into 1040 automatically.  As you mentioned, I deleted the investing 1099-Int. And it worked. 

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