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Get your taxes done using TurboTax
In my particular case, I am using TurboTax Deluxe 2021 as Windows application on my PC. I am not sure how I can submit diagnostic copy. At any rate, I have figured out the discrepancy. I received 1099-INT form from my bank which allowed me to redeem US Savings Bonds. Hence, the interest income is recorded in Box 3 of the 1099-INT form. Due to fact that savings bonds were issued in the early 1980's, the interest income from the savings bond will not appear in box 3 of Part I in federal Schedule B form. I consulted with the relevant instructions for Michigan state return and found no date restrictions on excluding interest income from US Savings Bonds. I hope this makes sense to you.
March 28, 2022
9:39 AM