@9ESCAMILLA - The bank that cashed the bonds for you is saying that you got more that you say you got. Contact them for a corrected 1099-int.
If you received an erroneous 1099, You have several choices (#2 is preferred):
- Ideally, you get a corrected 1099-int from the payer
- Report only the correct amount on your form. Attach a copy of the 1099 and a statement explaining the circumstances. You can't e-file.
- Report the 1099 income as shown. Then enter a line 8, sch 1 deduction, for the difference . In TurboTax (TT), enter at:
- Federal Taxes tab
- Wages & Income
Scroll down to:
-Less Common Income
-Misc Income, 1099-A, 1099-C
- On the next screen, choose – Other reportable income - Enter the number with a minus sign (-) in front. Briefly explain at description.
