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How to enter federal agency tax exemption in Minnesota
TurboTax doesn't seem to have a way to adjust interest on Federal Farm Credit Bank and Federal Home Loan Bank interest. My broker 1099s all come with just US treasury interest broken out, the FFCB and FHLB interest is lumped in with regular interest. TurboTax doesn't seem to have a entry in the Minnesota return to add this interest to UST interest as not taxable in Minnesota. For right now, I just went in and did the override on form M1M to increase the exemption to the right amount. Am I missing something? Worried the override might trigger an audit?
March 17, 2024
8:45 AM