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Italiantaxman
Level 2
October 25, 2023
Question

Where do I report interest income received on a 1099B from a bank for my business checking account? On Schedule B or on Schedule C? If Schedule C how and where?

  • October 25, 2023
  • 1 reply
  • 13 views
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1 reply

Jim-from-Ohio
Jim-from-OhioIntuit Community Champion
Intuit Community Champion
October 25, 2023

Interest income is shown on a 1099-INT, not a 1099-B but to answer your question interest income goes on Schedule B. 

    I
    ItaliantaxmanAuthor
    Level 2
    October 25, 2023

    Thanks for correcting my question which should now read:  where do I ]report interest income received on a 1099-int under the business' tax ID #? 

    I
    ItaliantaxmanAuthor
    Level 2
    October 25, 2023

    Thanks for correcting my question which should read:  where do I report interest income from a business checking account reported under my LLC's tax EIN number?  On schedule C line 6 under other income as some recommend?  if so how to enter without forcing an override?

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