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P
peonywlwy1
March 9, 2025
Question

The interest given by the insurance company should be treated as income or interest and where to report under turbo tax?

  • March 9, 2025
  • 1 reply
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    1 reply

    S
    SabrinaD2
    March 9, 2025

    Interest given by an insurance company is generally treated as taxable interest income. Here's how you can report it in TurboTax:

    1. Sign in to TurboTax: Open your TurboTax account and go to your return.
    2. Go to Wages & Income: Scroll down to the "Wages & Income" section.
    3. Click Interest and Dividends:
    4. Enter Interest Income
    5.  Even if you did not receive a Form 1099-INT, you can still enter the interest manually choosing enter a different way.
    6. Enter Details: Enter the name of the insurance company as the payer and the amount of interest received.
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