Where do I enter a bank interest penalty for early withdrawal of savings? Can I just deduct this penalty from my interest earned from same bank?

Forum|Forum|6 years ago
June 1, 2019
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TurboTax Premier Online

Best answer by AnthonyC

It's entered on the same screen as normal bank interest. Make sure you check the box that says "My form has info in more than just box 1" (see screenshot). Box 2 is for early withdrawal penalty.

AnthonyCAnswer

Employee

It's entered on the same screen as normal bank interest. Make sure you check the box that says "My form has info in more than just box 1" (see screenshot). Box 2 is for early withdrawal penalty.

Save Ag

I don't see a screenshot.

VolvoGirl

Employee

This is a very old thread and the screenshots did not migrate over when they changed the forum in 2019. I don't use the Online version so I don't know how the screen looks. It used to be.....Check the box below box 1 that says "My form has info in more than just box 1."

Enter the early withdrawal penalty in box 2.