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TurboTax has reported interest income received without a 1099-INT in two places so it's taxed twice. How should this be done to avoid the problem?

Forum|Forum|7 years ago
June 3, 2019
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I received interest income without 1099-INT. I added it as Miscellaneous Income with a description "Personal Loan Interest". Turbotax included that amount with the interest reported on 1099-INT (not a problem) but also included the total on Schedule 1, Line 21. This results in that income being taxed twice. How should this interest be reported to avoid this?

TurboTax Deluxe Windows

Best answer by TomK2023

Delete the Miscellaneous Income entry.

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

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

Delete the Miscellaneous Income entry.

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

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

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Employee

Thanks!