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March 12, 2021
Question

How do I enter interest I earned on a mortgage I hold from selling a house? I am using TurboTax Premier. Last year my tax accountant had it on Schedule B. Can't find it.

  • March 12, 2021
  • 1 reply
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Initially I treated it like a 1099-Int, but there is only one line and last year the tax accountant had 2 lines - the name and address.

1 reply

March 12, 2021

To enter interest income (without a 1099-INT):

  1. Open your return (if not already open).
  2. Click on “Take me to my return” if applicable.
  3. Search for "1099-int" in the Search box.
  4. Click on the “Jump to 1099-int” link.
  5. Arrive at the Let's get your 1099-INT or brokerage statement details page.
  6. Enter source of income in the Received from field.
  7. Enter interest income in the Box 1 - Interest income field.

OR

 

If you are entering 1099-INT information manually rather than importing, you will not need to report the FEIN. 

 

Under the Federal menu on the left, choose Wages & Income. Under Interest and Dividends, choose Start/Revisit next to Interest on 1099-INT. If the interest income is already listed, choose the trash can icon to the right to delete. Then, click on Add a 1099-INT. In the bottom, right-hand corner, click I'll type it in myself. On the next screen, enter payer information and interest income in box 1. The screen will not require an FEIN. Per @VictoriaD75

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