Hi,
We had savings bond that matured in 2022, and we reported the interest on 2022 1040X, though we cashed in the savings bond in 2023. Since we cashed in the bond in 2023, we received a 2023 1099-INT. I entered the interest in Box 3 of 1099-INT Turbotax form, and checked "Savings Bond interest previously reported". However, SmartCheck (using TT 2023 Premier) gives an error, stating that it "cannot be previously reported bond interest since the program does not support this kind of adjustment to Special Handling Interest."
I saw another post that suggested checking "My accrued interest is included in this Form 1099-INT," but our situation is different than what that poster had done, since we have not been reporting the accrued value as interest each year; we reported it when the bond matured in 2022. If I change the "Adjustments to Interest" to "Other," then the error goes away, but then I am not able to let the IRS know on the Schedule B form that I had reported this savings bond interest previously.
Thank you for any advice!
