INTEREST INCOME

[Dan]

Question:  How do you enter interest that you earned from $1 up to $9 on Form 1040 when you don't receive a 1099 statement?

 

Where in the ATX program are you able to do this?

 

Thanks for your reply!

[Lynn EA USTCP in Louisiana]

I create a 1099-INT entry for that bank.  The numbers flow from there onto the schedule B.  I also check the box so that schedule B always prints.

[Abby Normal]

I used the Detail screens for interest, dividends and investment sales. Much faster. It's like a spreadsheet. And, unless the taxpayer had a lot of accounts with less than $9 interest. I would skip it.