Question

I received some money from selling my half of out house to my ex-husband through the divorce settlement and got interest on it. How should I file this 1099?

Forum|Forum|2 years ago
March 7, 2024
1 reply
0 views

The money from the house is in an investment account and it accrued interest. How do I file this account in my taxes?

TurboTax Deluxe Online

V

Vanessa A

You can enter it by clicking the following:

Federal
Income
Show more next to Interest and Dividends
Start next to interest on 1099-INT

This interest is taxed as ordinary income, which is the same rate your wages or salary is taxed at.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

A

andreakerner-hotAuthor

and what if I gave some money as a gift to my daughter's down payment on her new house?

KrisD15

The interest income would be reported the same, whether you turned around and gifted your daughter or not.

As a side note, if the gift was over 18,000 for tax year 2024, you may need to file a gift tax return, Form 709 which is separate from your tax return and is not supported in TurboTax.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Vos impôts avec un expert

Faites vos impôts vous-même

Situations fiscales

Ressources

Experts at your fingertips

Do it yourself

Business taxes

Tax situations

Resources

Get answers to all your tax questions

Sign up

Login with SSO

Login to the community

Login with SSO

Scanning file for viruses.

This file cannot be downloaded