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June 5, 2019
Solved

Where can I enter the " early withdrawal penalty " on my 1099 INT ?

  • June 5, 2019
  • 3 replies
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Best answer by macuser_22

Yes it is deductible on the 1040 line 36 that comes form Schedule 1 line 30 "Penalty on early withdrawal from savings" from  box 2 on the 1099-INT.

Click on the "My form has more boxes" under box 1 and the screen will open.

3 replies

Carl11_2
Employee
June 5, 2019
Penalties and fines for anything are not deductible. That's why there's nowhere to enter it.
June 5, 2019
email alert some try to log in to account
macuser_22
Employee
June 5, 2019

Yes it is deductible on the 1040 line 36 that comes form Schedule 1 line 30 "Penalty on early withdrawal from savings" from  box 2 on the 1099-INT.

Click on the "My form has more boxes" under box 1 and the screen will open.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**