Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

1099 INT - Taxable Accrued Interest Paid

GodFather
Level 8

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?

 

0 Cheers
1 Best Answer

Accepted Solutions
IRonMaN
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.


Slava Ukraini!

View solution in original post

8 Comments 8
IRonMaN
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.


Slava Ukraini!
GodFather
Level 8

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.

** I'm still a champion... of the world! Even without The Lounge.
IRonMaN
Level 15

Section E of that page?


Slava Ukraini!
BobKamman
Level 15

It's there, I used it myself just the other day.  Farther down than it should be.  

GodFather
Level 8

I should have known IronMan was right.  Geezz....I blame it on it being late on a Saturday.  Thank you. 

GodFather
Level 8

Thank you Accountant Man.  

IRonMaN
Level 15

IRonMaN_0-1644790635863.png


Slava Ukraini!