This article will help you input 1099-INT amounts into Lacerte.
Where do I enter amounts from 1099-INT box 1?
- Go toScreen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down to Interest Income.
- Enter the amount in Banks, savings & loans, credit unions, etc (code 2).
Where do I enter amounts from 1099-INT box 2?
- Go toScreen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down to Other.
- Enter the amount in Early withdrawal penalty (code 18).
Where do I enter amounts from 1099-INT box 3?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down to Interest Income.
- Enter the amount in U.S. bonds, T-bills, etc. (nontaxable to state) (code 4)
Where do I enter amounts from 1099-INT box 4?
See Also
Is There a Dividend Tax? Your Guide to Taxes on DividendsExempt Interest DividendsUnderstanding 2024 IRS Tax Form 1040 Schedule B: Interest and Ordinary Dividends with Instructions | TaxfyleKnowledge Base Solution - Entering information from 1099-INT and 1099-DIV in TaxWise- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toTax Withheld.
- Enter theamount in Federal income tax withheld (code 14).
Where do I enter amounts from 1099-INT box 5?
- Go to Screen 25, Itemized Deductions.
- From the left Sections, choose Interest.
- Enter the amount in Investment interest (Ctrl+E) (code 24)
Where do I enter amounts from 1099-INT boxs 6 and 7?
The amounts from box 6 and 7 are used to generate a Foreign Tax Credit. If your client needs to file Form 1116 see the following article:
Where do I enter amounts from 1099-INT box 8?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toTax-Exempt Interest.
- Enterthe amount in Total municipal bonds(code 19).
Where do I enter amounts from 1099-INT box 9?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toTax-Exempt Interest.
- Enterthe amount in Specified private activity bonds included above (6251)(code7).
Where do I enter amounts from 1099-INT box 10?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toAdjustments to Federal Taxable Interest.
- Enter the amount in Original issue discount (OID) (code 11) as a negative number.
- Market discount on a tax-exempt security is categorized as interest income, so entry as a negative amount will increase the total interest income on Schedule B and Form 1040.
Where do I enter amounts from 1099-INT box 11?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toAdjustments to Federal Taxable Interest.
- Enter amounts inAmortizable bond premium (code 12).
Where do I enter amounts from 1099-INT box 12?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toTax-Exempt Interest.
- Enter the amounts in Amortizable bond premium on Treasury obligations (code 36).
Where do I enter amounts from 1099-INT box 13?
- Go to Screen 11, Interest Income.
- Enter the Name of Payer.
- From the left Sections, choose Form 1099-INT.
- Scroll down toTax-Exempt Interest.
- Enter the amounts in Amortizable bond premium on tax-exempt bonds (code 37).
