You should receive a Form 1099-INT from banks and financial institutions for interest earned over $10. Even if you did not receive a Form 1099-INT, or if you received interest under $10 for the tax year, you are still required to report any interest earned and credited to your account during the year.
The interest earned is entered in the Investment Income section of the program.
- From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click the menu icon in the upper left-hand corner, then select Federal.
- Click Investment Income to expand the category, then click Interest Income (Form 1099-INT)
- Click +Add Form 1099-INT to create a new copy of the form or click Review to review a form already created
- Click Quick Entry or Step-by-Step Guidance. If you select Quick Entry, be sure to scroll down to answer all applicable questions. If you select Step-by-Step Guidance, the program will proceed with the interview questions.
The payer's identification number and address are not needed.