I am trying to figure out how box A1 of the Kansas schedule S is calculated by TurboTax.
I started a stripped down test return in order to find out which entry in my Federal tab caused an amount to appear on the schedule S.
It did not take long to find the entry in my 1099-INT section that caused the amount to appear in box A1 of schedule S.
The 1099-INT has these values:
Box 1: $0.78
Box 8: $3,000.00 ($1,500 is from Kansas, $1,500 from other states)
Box 13: $1,610.24
Before entering this 1099-INT, there was no schedule S.
Entering the 1099-INT values resulted in creating a schedule S with $695 in box A1.
I do not understand how $695 can be obtained from the three 1099-INT values.
Anyone an expert on the Kansas schedule S?
I am working in TurboTax Premier 2022 installed on my iMac computer.
Ok, after I wrote the above, I tried removing the box 13 amount and then checked the schedule S box A1 which now has the value of $1,500. Which is what I would expect to see.
So now my question is, how does the $1,610.24 bond premium on tax-exempt bond get converted to $695 in box A1 of schedule S? I cannot find anything in the KDOR schedule S instructions that talks about this.
