Get your taxes done using TurboTax

lauracalili,

 

Before entering your T-Bill information, there are a couple of things to clarify. 

 

If you purchased that security through the online-only TreasuryDirect system (treasurydirect.gov) you would log into your TreasuryDirect account and go to the "Manage Direct" tab and select "Year 2022" under the "Manage My Taxes" area.  This will take you to your 1099 forms for transactions in your account.  You will indeed find that the Payer Information is "Department of the Treasury" and their tax ID number is 53-0197074.  The 1099-INT portion will direct you to enter the T-Bill interest in Box 3 when you transfer it to TurboTax.  (In most circumstances interest appears in Box 1, but US govt. interest is special and appears in Box 3 instead.)

 

If you, instead, purchased the T-Bill through a brokerage account, you would use the Broker's Payer Name and Tax ID number shown on the tax forms that the broker sends you.

 

T-Bills can also show up in 1099-B forms as well if you paid other than the face value of the T-Bill, i.e., at a discount or a premium.  When the bill matures (or if you sell it), the difference between what you paid and what you sold it for is a capital gain that shows up on a 1099-B.  Enter the numbers from the 1099-B where TurboTax deals with stock and bond sales.  Again, the Payer Name and Tax ID depend upon how you purchased the T-Bill.