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February 25, 2023
Question

Does not have a box 7 on the 1099 from from Wells Fargo Bank ie simple interest on time account . So how do I answer the Question?

  • February 25, 2023
  • 1 reply
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1 reply

February 25, 2023

Be sure you are entering your interest income in the correct section of your return.  If your Form 1099-INT is just reporting simple interest, you will most likely only have information reported in box 1.

 

Use the following steps to go to the Interest Income section:

 

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner) 
  • This opens a box where you can type in “interest income” and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
  • The search results will give you an option to “Jump to interest income
  • Click on the blue “Jump to interest income” link and enter your information
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