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Get your taxes done using TurboTax
To report Bond interest, without form 1099-INT, enter it as if you had a 1099-INT form.
- Log on and continue your return then
- Press the TurboTax "Search" button near the top right of your screen
- Type "1099-int" into the TurboTax search box
- Select "Jump to 1099-int" from the dropdown list of results
- If you reach the "Here's the interest we have so far" screen, click "Add interest income"
- On the "Let Us Enter Your 1099-INT" screen, scroll down and press "I'll type it in myself"
- On the "Let's get the details from your 1099-INT or brokerage statement" screen, be sure to check the checkbox for "My form has info in more than just box 1 (this is uncommon)" See the screenshot below.
- You can now add Box 3 interest from your savings bonds.
- Follow the prompts
- If you reach the "Did you cash any Series EE or I U.S. savings bonds?" screen, press "Yes" if you did
- On the "Did you use your U.S. savings bonds to pay for higher education expenses?" screen, press "Yes" if you used your savings bonds for educational costs
You have a choice on when you report your bond interest. You can:
- report the interest every year or
- put off (defer) reporting the interest until you file a federal income tax return for the year in which the first of these events occurs:
- you redeem (cash in) the bond and receive what the bond is worth, including the interest, or
- you give up ownership of the bond and the bond is reissued, or
- the bonds stops earning interest because it has reached final maturity.
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March 28, 2022
6:29 PM