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March 4, 2025
Question

Where do I list a 1099-INTi received for Interest Paid or Credited for a revised 2020 Tax Return?

  • March 4, 2025
  • 1 reply
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Received $5655.91 interest on the amount I was owed for a revised 2020 Return. Not sure where to list this on this year's return.

    1 reply

    March 4, 2025

    You should report the interest income from your 1099-INT on your tax return for the year you received the interest payment. 

     

    Here's how to do it in TurboTax:

    1. Open or continue your return. Bee sure you are signed in for the link in Step 2 to work.
    2. Go to 1099-INT interest income.
    3. Select Yes on the screen Did you receive any investment income? then Continue.
      • If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue.
    4. On the next screen, select how you want to enter your Form 1099-INT:
      • If you want to import your form, search for your brokerage or financial institution. Sign in to your online account and select Get my form.
      • If you want to upload a copy of your form or manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT.
    5. TurboTax will automatically list the information on Form 1040 and Schedule B based on the information you provide. If your total taxable interest income is more than $1,500, TurboTax will include Schedule B with your return

     

    If you need more detailed instructions, you can refer to the IRS Instructions for Form 1099-INT