How do I add an explanation to my return?

Forum|Forum|1 year ago
February 2, 2025
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How do I adjust the amount shown on a 1099 and provide an explanation?

Best answer by PatriciaV

You can use the nominee procedures which will allow you to show the portion that belongs to others and then report only your portion of the interest income.

Nominee Interest: Some or all of the interest belongs to someone else but the entire amount was reported under your Social Security number. This includes interest belonging to other beneficiaries but reported under your ID number.

In TurboTax you do this by entering the 1099-INT, then checking on the next screen that you need to adjust the amount. You'll then be able to enter the adjustment amount and check the reason for the adjustment.

Mike9241

you can't include a written explanation in an e-filed return.? what is the reason it's wrong? we may be able to suggest a workaround. your other choice is to mail in your return and hope an agent actually reads the explanation.

kxhansenAuthor

My mother passed away at the end of October and the 1099's I have been getting include the full year, but her return is only supposed to be until the date of her death. I asked an accountant friend of mine and he said he files the amount from the 1099 and then adjusts it to the correct amount and includes a note that it has been adjusted and that the adjusted amounts will be included in the estate's 1041 return

PatriciaVAnswer

Employee

You can use the nominee procedures which will allow you to show the portion that belongs to others and then report only your portion of the interest income.

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