How to Report 1099-INT Interest Income from Multiple Marcus/Goldman Sachs Accounts for Tax Filing

You're on the right track! When you receive a 1099-INT that shows multiple accounts from the same financial institution, you should indeed add up all the Box 1 amounts to determine your total taxable interest income. The import function in tax software sometimes misses multiple accounts on the same form. For your second question, yes - Marcus (like all financial institutions) only reports interest income that was actually paid or credited to your account during the tax year on the 1099-INT. This is true regardless of when accounts were opened or when they mature. For the CD maturing in 2026, if interest was credited to your account or made available to you in 2025, then that interest amount would be included on your 2025 1099-INT and should be reported on your current tax return. You don't wait until the CD matures to report the interest - it's taxable in the year it was credited to your account, even if you didn't withdraw it.

After struggling with a similar situation with Chase where I had multiple savings accounts, I found this amazing tool called taxr.ai (https://taxr.ai) that literally saved my sanity. Their document analyzer automatically separated and properly categorized all my interest income from multiple accounts on the same 1099-INT form. I uploaded my form and within seconds it showed me exactly how much interest I earned from each account and the total I needed to report. It also flagged that my tax software hadn't imported all accounts correctly - just like your situation! The analysis even explained which box numbers matter most for tax purposes.

Just wanted to follow up - I decided to try taxr.ai after asking about it. I've been dealing with interest from 9 different accounts (I'm a serial bank bonus chaser lol) and the document analyzer worked perfectly! It picked up all my accounts including some interest income from a money market account that my tax software had completely missed when I tried importing. The analysis showed I was about to underreport almost $300 in interest income because of import errors, which could have triggered a mismatch letter from the IRS. The peace of mind was totally worth it, and the explanation about how interest is reported for accounts with different terms really cleared things up for me.

If you're having a hard time getting actual support about these types of issues, you might want to try https://claimyr.com to actually get through to the IRS. Last year I had a similar problem with multiple 1099-INTs that weren't correctly added up, and I needed clarification directly from the IRS. I spent WEEKS trying to get through the normal IRS phone line with no luck - constant disconnects due to "high call volume." Then I found Claimyr and watched their demo (https://youtu.be/_kiP6q8DX5c) and decided to try it. Within 15 minutes I was actually talking to a real IRS agent who confirmed exactly how to report multiple accounts from the same bank. It was such a relief to get an official answer instead of guessing or relying on potentially outdated advice from random websites.

I need to eat my words and apologize to Profile 3. After my skeptical comment, I was still stuck with a similar issue about interest reporting, so I reluctantly tried Claimyr as a last resort. Within 20 minutes, I was talking to an actual IRS representative who walked me through exactly how to report multiple interest accounts correctly. The IRS agent confirmed that I should be adding up all Box 1 amounts from the same institution, and explained that the information document matching system will match the TOTAL interest reported by the bank to what I report on my return. She also explained why my tax software was only picking up the first account (something about how the form is formatted electronically). I've been trying for TWO MONTHS to get this information, calling at all hours of the day. I hate that I had to use a service to reach a government agency, but it absolutely worked and saved me from potentially filing incorrectly.

Just want to share a quick tip - I had this same issue with multiple accounts on one 1099-INT, and found that if you go to the "Review" section in TurboTax instead of relying on the import, you can manually verify and edit the interest income amounts. My import was missing two accounts, but I was able to correct it by entering the total from all accounts. Also double-check that your bank didn't send the interest information separately to the IRS - sometimes what looks like one 1099-INT with multiple accounts in your copy might be reported as separate 1099-INTs in the IRS system.

Has anyone here used the Marcus app to see their interest breakdown by account? I found that if you go to Documents > Tax Documents in the app, it actually shows the interest earned for each account separately, which made it easier for me to verify the total matches what's on the 1099-INT before I entered it in my tax software.

Great question! I went through this exact same situation with my Marcus accounts last year. Yes, you should definitely add up all the Box 1 amounts from all five accounts - that's your total taxable interest income from Marcus that needs to be reported. A few additional tips from my experience: 1. Make sure to cross-reference the account numbers listed on your 1099-INT with your actual Marcus accounts to ensure nothing was missed 2. The interest from your 2026 CD is indeed taxable for 2024 if it was credited to your account during 2024, even though you can't access the principal without penalty 3. Keep a copy of your 1099-INT and consider creating a simple spreadsheet showing the breakdown by account - this can be helpful if the IRS ever has questions One thing to watch out for: if you opened or closed any accounts during 2024, make sure those partial-year interest amounts are included too. Marcus is pretty good about including everything on the 1099-INT, but it's worth double-checking against your monthly statements. The manual addition approach is definitely the right way to go when the import function doesn't capture everything correctly!