State tax filing

Hi yes below are some of the threads

 

There was an interesting suggestion recently in one of these (following link with example) to use the "US Gov Obligations" adjustment on a 1099-DIV to book the AMD to your state subtraction - not putting it in Box 1 as that would duplicate the 1099-B transfer that can't be turned off, but just adding to the US Gov Obligations amount...

https://ttlc.intuit.com/community/taxes/discussion/re-accrued-market-discount-on-treasury-bonds/01/3...

 

From some quick testing it seems TT doesn't enforce this amount needs to be less than Box 1, which is probably a flaw in TT, and whatever you put there should hit your state subtraction.  If you don't want to hack an existing 1099-DIV and want to be more transparent you could also try entering a 1099-DIV called "AMD STATE ADJUSTMENT" or something like that, with $0 in Box 1a and the AMD as the US Gov amount (which would appear in your Fed return Schedule B, but with $0 impact on Fed income).

 

Not a CPA/expert so I'm not endorsing or vouching for any side effects, just passing on for others still stuck on this issue or unable to adjust their state return.  I already filed with miscellaneous adjustment on my state return so I have not seen it work end to end thru filing.

 

Other threads (first is the original one from 2023, others more recent)

 

https://ttlc.intuit.com/community/taxes/discussion/accrued-market-discount-on-treasury-bonds-state-t...

 

https://ttlc.intuit.com/community/taxes/discussion/re-i-bought-trsy-notes-at-a-discount-my-broker-s-...

 

https://ttlc.intuit.com/community/taxes/discussion/re-accrued-market-discount-on-new-york-tax/01/357...

 

https://ttlc.intuit.com/community/taxes/discussion/accrued-market-discount-on-treasury-bonds/00/3156...

 

https://ttlc.intuit.com/community/taxes/discussion/re-accrued-market-discount-on-treasury-bond-ny-st...

 

https://ttlc.intuit.com/community/state-taxes/discussion/re-bond-interest-not-taken-off-illinois-tax...