Question

Why does the Taxable interest income not match what was entered?

Forum|Forum|1 year ago
February 8, 2025
1 reply
0 views

Taxable interest total is greater than what was entered

K

KeshaH

To better assist you can you provide the following information:

1. Are you using TurboTax Online or TurboTax Desktop?

2. Are you reviewing the 1040 or looking at the income summary within the program?

3. What amount are you expecting and what amount are you seeing in TurboTax?

4. Do you have interest income reported on forms other than 1099-INT?

The answers to these questions can help us better understand what you're experiencing.

A

amperez_raulAuthor

Following are the answers to the questions.

1. Are you using TurboTax Online or TurboTax Desktop? Online

2. Are you reviewing the 1040 or looking at the income summary within the program? The income section does not show the same as the summary in the end when you check info and it explains the income categories

3. What amount are you expecting and what amount are you seeing in TurboTax? I entered $6565 in interest income and the summary shows $9493 in Taxable Interest Income. There is a $2928 difference.

4. Do you have interest income reported on forms other than 1099-INT?

No

VolvoGirl

Employee

You can have interest from other places like on a 1099 DIV or a schedule K-1. Don't understand where you are looking. You need to look at the actual 1040 tax return line 2b for taxable interest. Oh did you import any forms or manually enter them?