Hi there,
I have US treasury notes which were reported to IRS from my financial institution in 1099-INT (line 3) and 1099-OID (line 8). I know these are tax exempt for state of California. However, the sum of these amounts (line 3 +line 😎 is not the same as the one reported in form CA (540) from line 2 (taxable interest) in Part I Section A under column B (subtractions) . How does turbo tax determine this amount in this form. please advise. I believe this is a bug.
Thank you
