Be aware of a calculation issue in TurboTax.
It affects people who have:
- an interest adjustment (for example, accrued interest) for a form 1099-INT, and
- have more than one interest category (for example, taxable, tax-exempt, U.S. obligations).
For details see
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and search for "accrued interest" or go directly to
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The adjustments TurboTax puts in Schedule B may surprise you. It sure surprised me. The Schedule B interest adjustment figures are worth checking.
A work-around of sorts is described in the forum. It involves creating multiple 1099-INT worksheets for each 1099-INT form; maybe as many as nine each, though I'm not sure.
Only by accident did I noticed the discrepancy. Otherwise, I would've reported bogus numbers on Form 1040.