The box 3 interest from 1099-int carries to MI sch1 line 10 to become a subtraction from the MI income automatically.
US savings bond interest is tax free in every state. After entering the 1099-int, select none for uncommon situations. You don't enter the dates of the bonds or any other information. Just the amount in box 3.
You state that you received a 1099-int and the savings bond interest is correctly reported in box 3. It should carry to sch B, part 1 interest. Taxable on the federal return. That number then carries to MI, not taxable on MI.
Since yours is not carrying correctly, please go up to your black bar and select Online, then Check for Updates. Then follow these steps:
- Please go to FORMS mode.
- Under sch B, go to Form 1099-int and verify the interest is showing in box 3 as it should.
- Go up to Sch B and verify the income is showing in Part 1 interest.
- Scroll down to MI sch 1, look at line 10. Is it still blank?
- You can do an override to put in the correct number but that would void the accuracy guarantee.
You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:
You are on desktop, go to black bar, click online > click send tax file to agent > number pops.
Reply with # here and @AmyC please.
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