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Get your taxes done using TurboTax
Interest from corporate bonds and U.S. Treasury bonds is typically taxable on your federal return but U.S. Treasuries are exempt from state and local income taxes. Conversely, most interest income earned on municipal bonds is exempt from federal income taxes. So this could account for why you are seeing the differences.
If you enter your Forms1099-INT as shown (and they are complete and correct), this information will properly flow to your state return.
Also, click here to see this post, which may provide additional clarification.
Click here for information on entering Form 1099-INT.
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‎February 28, 2024
11:43 AM