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flyboywayne
March 9, 2020
Question

1099INT

  • March 9, 2020
  • 1 reply
  • 0 views

Have a 1099INT with Box 2 showing the interest from a previous year, how does this get reported when box 2 on the turbo tax form shows it is for "Early Withdrawal Penalty"?

    1 reply

    ColeenD3
    ColeenD3
    March 9, 2020

    Box 2 Form 1099-INT from the IRS also codes it as Early Withdrawal Penalty. Are you saying you got a 2019 1099 with 2018 interest? Is it a 2018 form?

    F
    flyboywayneAuthor
    March 9, 2020

    The 1099INT is from a state and for Calendar Year 2019 with Box 1 showing the interest amount and box 2 saying "Interest for Tax Year 2017".  Thank you for your previous reply.

    ColeenD3
    ColeenD3
    March 9, 2020

    Did you actually receive it in 2019? If so, it is taxable for 2019. Include it in Box 1.

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