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February 20, 2024
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Tax exempt interest listed on form 1040 does not agree with that listed on Form-1099

  • February 20, 2024
  • 1 reply
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For tax year 2023, with TurboTax Premier, the tax-exempt interest reported on form 1040-line 2a does not agree with that listed on Form-1099 INT box 8?

    Best answer by ThomasM125

    Would this difference have anything to do with a bond premium on tax exempt bond?


    The bond premium on tax exempt bonds entered in box 13 on your Form 1099-INT does reduce the amount listed in box 2(a) on your Form 1040. 

     

    [Edited 2/20/24 at 3:59PM PST] @Chetty

    1 reply

    February 20, 2024

    In TurboTax Online Premier, I reported tax exempt interest that correctly reported on the IRS form 1040 tax return.

     

     

    What are you seeing?  What version of TurboTax are you using?  Please clarify.

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    ChettyAuthor
    February 20, 2024

    I am using TurboTax Premier 2023 on a Dell Latitude laptop using Windows 10. The Form 1099-INT shows $7300. and Form 1044 shows $5300.

    ChettyAuthor
    February 20, 2024

    Would this difference have anything to do with a bond premium on tax exempt bond?