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Level 2
December 29, 2023
Solved

T-Bills

  • December 29, 2023
  • 2 replies
  • 3 views

T-Bills are taxable to federal government, but not taxable to the state, how do I report in TurboTax 

    Best answer by DoninGA

    To report interest income received -

    Click on Federal Taxes (Personal using Home & Business)
    Click on Wages and Income (Personal Income using Home & Business)
    Click on I'll choose what I work on
    Under Interest and Dividends
    On Interest on 1099-INT, click on the start or update button

    2 replies

    DoninGA
    Level 15
    DoninGALevel 15Answer
    Level 15
    December 29, 2023

    To report interest income received -

    Click on Federal Taxes (Personal using Home & Business)
    Click on Wages and Income (Personal Income using Home & Business)
    Click on I'll choose what I work on
    Under Interest and Dividends
    On Interest on 1099-INT, click on the start or update button

    VolvoGirl
    Level 15
    December 29, 2023

    Wait for the actual 1099INT to come.  It will probably be in box 3 and not box 1.  

    Level 2
    December 29, 2023

    Thank you for that