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Business & farm
Thanks for the reply. I know line 13 is an aggregate for many subtraction items, but on my return it reflects only one, the subtraction for US Obligations. In reviewing other questions and replies in this community, I have learned the answer to my question. The incorrect amount is due to TurboTax applying the ABP amount to a combination of line 1 and line 3 interest from my 1099-Int. To fix this, I need to do separate 1099 entries for the line 1 interest and the line 3 interest (US Obligations). Not sure why this isn't fixed by them or spelled out as what needs to be done to accurately prepare a state return.
March 28, 2024
10:19 AM