1099 INT - Taxable Accrued Interest Paid

Forum|Forum|3 years ago
April 1, 2023
1 reply
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First time I've seen Taxable Accrued Interest Paid on a 1099 INT. The research that I've done suggests it should be netted against Interest Income? Has anyone delt with this and how have you entered it into ProSeries?

ProSeries Professional

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Best answer by IRonMaN

If you click on the line on schedule B that relates to that interest, a second window opens for entering that kind of information.

IRonMaNAnswer

Level 15

If you click on the line on schedule B that relates to that interest, a second window opens for entering that kind of information.

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GodFather

Author

Intuit Community Champion

Thanks, IronMan....I'm familiar with that screen and did click it, but didn't see anything specific to Accrued Interest Paid.

Accountant-Man

Level 13

Enter "A" in the box above the several descriptions about half way down, like "N" for Nominee. Both of those are subtracted from the income.

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