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Question

Hello All, I got letter from the IRS stating I need to report "Total Interest Paid or Credited" as income but I am not sure how.

Forum|Forum|4 years ago
March 14, 2022
1 reply
0 views

This is not a tax bill. It shows taxable interest paid to you during the calendar year by the Internal Revenue Service.

TurboTax Free Edition Online

report using form 1099-int. it's interest the IRS paid you for its being tardy in issuing your refund.

It is clear how to enter a new INTEREST item.

What is UNclear is how to claim the CREDIT.

Can you clarify what type of Interest Credit you are trying to claim? Interest is normally reported as Income on a tax return.

If you're referring to Mortgage Interest, that is listed in the Deductions & Credits section.