I use TT Deluxe desktop. Let?s say I get a new 1099 INT form in the mail from a bank, XYZ. Now this form contains the interest figure(s)etc. in the various boxes. It also has fed id number(s), the bank?s main address, etc.
Right now, I create a new 1099 and fill in the $$$. My question: do I have to fill in all the aforementioned other stuff? Currently, I do. But doesn?t the IRS already receive the full filled-out form from XYX bank?
Please advise
Mel
Since the 1099-INT doesn't normally have to be included with the return, I would say you don't really need any of that. I've wondered why tax software like TT always asks for that if it doesn't actually go on any output.
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For the federal tax return, all that's required is the name of the bank and the amounts in the various boxes. Some states require the bank's federal tax ID number or other details for the state tax return. I don't know how TurboTax handles that. In a state that does not require any additional information, the TurboTax interview doesn't even give you a place to enter the other information. If the question-and-answer interview in TurboTax is asking you for the tax ID number, address, etc., it may be that your state requires it.
Bob Sandler
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