How to report Interest Income

Form 1099-INT and other interest income may be entered on our Interest Listing Page. If the interest income amounts to $1,499 or less, it will be reflected on line 2b of your Form 1040. If the income amounts to $1,500 or more, a Schedule B will be added to your return and the amount should reflect on Schedule B, Part I and on line 2b of Form 1040.

How to report Interest Income

1. Enter your Return, search and select Interest Listing Page

2. On the Interest Listing Page, select +Add New

3) Complete the Interest Listing Page and Save the page

The interest income reported on this page(s) should be reflected in your return depending on the total amount of interest income. 

Interest Listing Page Tips & Tricks

Interest entry method

Basic - Choose this method if Boxes 1 and 4 have amounts included  Advanced - Choose this method if Boxes 2, 6, 8, 11, or 15-17 have amounts included Seller-Financed Mortgage Interest - Choose this method if the income is Seller-Financed Mortgage Interest

Name of Interest Payer:

Enter the Payer Name from Form 1099-INT. If reporting Interest Income without a form, enter the name of Payer Interest is from.

Please Note: Reporting income from Box 3 of Form 1099-INT is currently not supported on MyFreeTaxReturn.com 

Disclaimer: DO NOT combine multiple interest income amounts. There is no limit to the number of listings a return can include. Add a New listing for each.