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Get your taxes done using TurboTax
These are the details :
1099-INT 1 : box 1 : $27 box 3: $95 box 12 : $30.5
1099-INT 2 : box 1 : $873 box 3: $124 box 11:$5.25 Accrued interest :$ 205.5
1099-INT 3 : box 1: $1117.25 box 3: $281 box 11: $35.23 Accrued interest : $372.68
I did not have Muni bonds, only corporate and Treasury notes/bond
How does that explain the reduction in the Box 3 for NC return?
You are suggesting that I create different 1099-INT with accrued interest split for corporate and treasury bond categories.
i.e
Corporate Bond:
1099-INT1 : box 1: $$ box 11 : $$ accrued interest from Corporate Bond
1099-INT 2: Box 3: $$ Box 12 : $$ accrued interest from Corporate Bond
Treasury Bond/Note:
1099-INT1 : box 1: $$ box 11 : $$ accrued interest from treasury note/bond
1099-INT 2: Box 3: $$ Box 12 : $$ accrued interest from treasury note/bond
Could you explain the reason behind this step of splitting 1099-INT?
Will this help create more deduction for state return?
Thanks in advance.