How do I report bonds that I cashed in last year?

[MichaelDC]

Are these savings bonds? This is normally reported to you on a 1099-INT. Let me know

[kcb336636]

They were savings bonds yes!

[MichaelDC]

Thanks. Let me know if you need anything else.

[kcb336636]

Where do I report those on this website? I see 1099 but mine is called 1099-INT.

[kcb336636]

I figured it out actually. Thank you!!!

[MichaelDC]

Nice catch! Thanks and Good Luck!

[kcb336636]

Thank you!!

[MichaelDC · Accepted solution]

You report Savings Bond interest from 1099-INT as interest income.  

1. Select Federal tab 

2. Select Wages & Income

3. Choose I'll choose what to work on 

4. Select Interest and Dividends

5. Locate the option Interest on 1099INT  and click the Start /Update button

6. Select "Yes" Did you receive any interest income?

7. On the "Let Us Enter Your 1099-INT" screen, scroll down and press "I'll type it in myself"

8. 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)

9. Enter in the Savings Bond interest into Box 3

10. You can now add Box 3 interest from your savings bonds.

11. Continue along with answering the questions in the following screens and pressing "Continue"

12. If you reach the "Did you cash any Series EE or I U.S. savings bonds?" screen, press "Yes" if you did

13. 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

14. If you qualify, TurboTax will help you to record your exclusion of savings bond interest for Form 8815 on a series of screens

[pamela081263]

I followed the instructions, but now TT said I had 11 areas to update....it took me to a form to enter certain information about the bonds and I have no clue if I entered the correct information!  (I'm doing this for my elderly folks).  I entered what I thought was the correct answers, but then their return amount went up, a lot!  I would have expected with getting interest on the savings bond, the return amount would have down down.  

I'm so confused.

Pamela