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I need the form to report cashing in bonds
I am in NYS.
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June 4, 2019
3:05 PM
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Investors & landlords
To record your Savings Bond interest
- Log on and continue your return then
- Press the TurboTax "Search" button near the top right of your screen
- Type "1099-int" into the TurboTax search box
- Select "Jump to 1099-int" from the dropdown list of results
- If you reach the "Here's the interest we have so far" screen, click "Add interest income"
- On the "Let Us Enter Your 1099-INT" screen, scroll down and press "I'll type it in myself"
- On the "Let's get the details from your 1099-INT or brokerage statement" screen, be sure to check the checkbox for "My form has info in more than just box 1 (this is uncommon)" (Refer to the attached image)
- You can now add Box 3 interest from your savings bonds.
- Continue along with answering the questions in the following screens and pressing "Continue"
- If you reach the "Did you cash any Series EE or I U.S. savings bonds?" screen, press "Yes" if you did
- On the "Did you use your U.S. savings bonds to pay for higher education expenses?" screen, press "Yes" if you used your savings bonds for educational costs
- If you qualify, TurboTax will help you to record your exclusion of savings bond interest for Form 8815 on a series of screens
Read more about Form 1099-INT below:
Form 1099-INT is used to report interest income from banks, brokerages, and other financial institutions. These earnings are always reportable and are usually (but not always) taxable.
Although 1099-INT forms are not required to be issued for amounts less $10, you're still supposed to report the interest on your return.
June 4, 2019
3:05 PM