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Get your taxes done using TurboTax
the US Treasury is not a "small" bank. The problem is TurboTax not able to identify Treasury Direct interest on my STATE (MI-1040) which is not taxable. The TurboTax rep couldn't figure out how to identify the income as not taxable. I believe that T-Bill/Note is not taxed by any State!
I easily downloaded the 1099-int from the US Treasury but the program didn't allow to note as a Subtraction on Michigan Schedule 1 Additions and Subtractions!
Are you stating that you can subtract Treasury income from your State tax form?
March 10, 2024
2:02 PM