Question

My bank lists my interest income for both my CD and my savings account on the same 1099-T

Forum|Forum|4 years ago
February 12, 2022
1 reply
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Specifically, they list the CD interest at the top of the form, and then lower down they list the savings account and that interest (they don't use the sum of both). When I uploaded it to TurboTax, it only registered the interest from the CD at the top. Should I just manually combine the interest and adjust the number? Or should I submit the CD interest income as one portion in TurboTax and the Savings Interest income as a separate portion in TurboTax (almost like submitting interest income for 2 separate banks)?

TurboTax Self Employed Online

A

AnnetteB6

Either option is fine.

It is more important that all the interest be reported as part of your return than whether the numbers are combined into a single interest income amount or reported separately for the same bank.

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