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Level 2
posted Apr 9, 2023 12:14:43 AM

Amend 2022 tax to include 4-week T-bill with $77 interest - do we need to adjust the taxable amount?

I purchased 4-week T-bill from treasurydirect in 2022, and it turned out that treasurydirect does not mail 1099-INT, and I forgot to include the $77 interest in the 2022 tax return. I am now trying to amend my tax return, and after entering the 1099-INT information (I only have $77 in Box 3, and not information in other boxes), turbotax calculates that I have $19 federal tax due, and asks me if several uncommon situations apply. Among all the situations, I am not sure if the taxable amount needs to be adjusted. Would you please let me know if I shall check this box that says "we need to adjust the taxable amount"?

 

Please let me know if I shall provide any additional information. Thanks! 

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