In the example below, taxable interest income is $500 while equivalent accounting income is only $500.
Therefore, there is no increasing or decreasing adjustment as per trust and partnership examples above.
![](https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/60005127580/original/pjsGvLrE16ITFpy-KTAXt4KckTNhSEnQ1g.png?1587711164)
There is no need to tag interest income in the accounts. Simply classify as Interest Income.
![](https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/60005127579/original/LgrAu5w0cJEU4lHSDp6tCm3gbCgY4Sk7Fw.png?1587711164)
Note: Manually enter the interest received amounts at the Gross Interest section.