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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?

Italiantaxman
Level 2
 
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4 Comments 4
Jim-from-Ohio
Level 11

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

Italiantaxman
Level 2

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 #? 

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Italiantaxman
Level 2

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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Skylane
Level 11
Level 11

A smllc is a disregarded entity. Report 1099 int on sch b

If at first you don’t succeed…..find a workaround