Hi all,
In 2023, I got a few CDs from Citi. I also got a treasury bond.
Yesterday I started doing my taxes. I got a 1099-INT from Citi. It lists the interest rate for all the CDs.
That said, it doesn't include any of the income from the treasury bond.
My banker said something along the lines of that income is not taxable, but when I Googled it, it seems it is still taxable at the federal level even if not at the state/local level.
I have two questions and would be very grateful for any pointers:
First, shouldn't I receive a 1099-INT for the treasury bond? I'm guessing I haven't received it because that comes from a 'brokerage account' which is technically separate. However, when I go to the document center, there is no 1099-INT form. I do have a document called '2023 TAX and YEAR-END STATEMENT' and if I dig deep inside the document, I find a section with 4 boxes:
- Summary of Form 1099-B
- 2023 1099-Div (with all the boxes with $0)
- 2023 Summary of Form 1099-OID
- 2023 1099-INT (with box 1 marked as 'Interest Income' for $0.32, and Box 3 with the real interest income I got which is labelled 'Interest on U.S. Saving Bonds & Treasury Obligations', Box 4 with 'Federal Income Tax Withheld' of $0).
Second, can I assume the box is a 1099-INT form? I'm not sure how to enter it though since it's a bond income and box 1 only includes a fraction of the actual interest I got.
I'm really not sure how to handle this correctly and would be very grateful for any pointers.
Many thanks
