The Form 1099-INT Interest Income or Form 1099-OID Original Issue Discount you received will show the amount of any penalty you were charged. The TaxAct program will transfer the information to line 22 of Schedule 1 (Form 1040) Additional Income and Adjustments to Income after you report it on Form 1099-INT or Form 1099-OID.

To report Form 1099-INT early withdrawal penalty (if you need help reporting Form 1099-INT, go to our Form 1099-INT - Entering in Program FAQ):

1. From within your Form 1099-INT, continue with the interview process until you reach the screen titled Interest Income - 1099-INT Income.
2. Click the data entry field below 2. Early withdrawal penalty, and type the amount.

To report Form 1099-OID early withdrawal penalty (if you need help reporting Form 1099-OID, go to our Form 1099-OID - Entering in Program FAQ):

1. From within your Form 1099-OID, continue with the interview process until you reach the screen titled OID Interest - Original Issue Discount.
2. Click the data entry field below 3. Early withdrawal penalty, and type the amount.

Related Links

• Instructions for Form 1040 and Form 1040-SR

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.