Received refund from overpayment on 2022 taxes and received 2023 1099-INT for interest on overpayment, but did not receive interest on the refund and did not have any outstanding payments due. Was the missing interest credited toward my 2023 tax bill

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April 14, 2024
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Received refund from overpayment on 2022 taxes and received 2023 1099-INT for interest on overpayment, but did not receive interest on the refund and did not have any outstanding payments due. Was the missing interest credited toward my 2023 tax bill?

Best answer by SusanY1

Did you request a specific refund amount with the rest to be applied to the next year's return?

There is no way to remove the interest that the IRS reported was paid or credited to you. If part of your refund was allocated to any other purpose, the interest would be credited with it and is still taxable income to you in the year credited by the IRS.

SusanY1

The interest reported to you on the 1099 would have been included in the refund payment that you received.

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chestnutAuthor

Employee

I requested a specific refund amount. I only got the specific refund amount. I did not get the specific refund amount plus interest. I had expected to be paid the refund amount plus interest. So I need to subtract the interest from the specific refund amount and credit myself in Turbotax for the interest that was included in the refund amount that I had expected to be paid extra for? How do I do that in Turbotax? Thanks.