there are two ways to report interest on US savings bonds for tax purposes. if they're cashed in before maturity y there may be an early withdrawal penalty which would show on the 1099-INT
1) upon redemption which would be the total interest.
2) annually so in the year you cash them in only that year's interest earned
the 1099 will show total interest on line 1 (like 1 above) and line 2 the early withdrawal penalty, if any.
if you've been reporting interest annually you need to report the prior interest earned as an adjustment.
After entering the interest in Turbotax on the next page check the box that you need to adjust the interest.
enter the amount of interest previously reported and select the reason that the savings bond interest was previously reported
