Does TurboTax ask for entry of "interest expense"? Such as from my savings account ?

Forum|Forum|2 years ago
March 21, 2024
1 reply
0 views

No text available

TurboTax Deluxe Online

VolvoGirl

Employee

Can you elaborate? A savings account would pay you interest income on a 1099INT. What would be interest expense? An expense would be like Mortgage interest you paid.

nedlohcAuthor

I received interest on my savings account. But I am not seeing the place in TurboTax where I am asked for my interest received. I have finished entering all my tax information in Turbotax but haven't been asked about the interest I received.

VolvoGirl

Employee

Did you get a 1099 INT. If you didn't then enter it like you did get it.

Enter a 1099-Int under

Federal Taxes or Personal (for Home & Business)

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start, Revisit Or Update button

Don't enter the bank or broker name and don't try to import it. It is just as fast and easy to manually enter it. At the bottom pick - Change How I enter my Form

Then on the next screen pick I'll Type it in Myself