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February 17, 2025
Question

Does anyone know if the interest earned on unclaimed property, in this case $110, qualify as an "uncommon situation"? I have never received this and am not sure.

  • February 17, 2025
  • 1 reply
  • 0 views
The explanation on "Learn more" doesn't cover my question.

    1 reply

    LindaS5247
    February 17, 2025

    You can report this interest as "other income" in TurboTax.

     

    You can do this as follows using TurboTax Online:

    1. Go to the "Wages & Income" section of TurboTax
    2. Select "I'll Choose What to Work On"
    3. Scroll down to "Less Common Income"
    4. Select "Start or Update" next to Miscellaneous Income"
    5. Scroll down to "Other Reportable Income "
    6. Select Start or Update"
    7. Enter your income on the page that says "Other Taxable Income" (you can use "interest on unclaimed property" as your description)
    8. Select "Continue"
    9. Answer all of the follow-up screens.  

     

    You can do this as follows using TurboTax Online:

    1. Click on "Pick up where you left off"
    2. Click on "Wages & Income" in the left panel
    3. Click on "Less Common Income"
    4. Scroll down to "Miscellaneous Income"
    5. Scroll Down to "Other Reportable Income"
    6. Click on "Start"
    7. Follow the screens and answer all follow-up questions 


     

     

     

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