Did you get a 1099 INT from the bank for it? You enter the interest as a 1099-INT and put the amount in box 3.
To enter Savings Bonds just type Savings Bonds in the search box at the top of your return and click on the Jump To link at the top of the list. Or
Enter Savings Bond interest like a 1099Int under
Federal Taxes tab
Wages & Income
Interest and Dividends
Interest on 1099INT - Click the Start or Update button
On the import screen scroll down and pick I'll enter it myself.
Type any description like Savings Bond Interest
Savings Bond interest goes in box 3, not box 1. You have to check the little box under box 1 that says my form has more boxes for it to open up.
If this was an electronic I bond, you can log in to your TreasuryDirect account and download the Form 1099-INT. TreasuryDirect does not mail these Forms 1099-INT, they only provide them by download.
If this was a paper bond cashed at a bank, the bank is responsible for issuing the Form 1099-INT.
You can report the interest earned each year, or choose to wait until the 1099-INT is received. Most people choose to wait until the 1099-INT is received.
Here's how to enter savings bond interest reported to you on a 1099-INT box 3 into TurboTax Online (You can follow these steps to report interest yearly if that is the option you choose. Save your statements with your tax return information):
This is for reporting interest on I bond sales.
There was no Treasury Direct or anything similar on the pull down menu, so I entered the information myself
I don't see where to enter the Federal Identification Number when I manually enter data into Turbotax for a form 1099-INT from Treasury Direct, should the box show up?
Also, I wasn't sure what name to use for the financial institution, so I used "Treasury Direct, PO Box 9150, Minneapolis, MN 55480-9150, any other suggestions
Thank you!
You can use any name like I Bond interest and put the amount in box 3.
Bond interest goes in box 3, not box 1. You have to check the little box under box 1 that says my form has more boxes for it to open up.
If this was an electronic I bond, you can log in to your TreasuryDirect account and download the Form 1099-INT. TreasuryDirect does not mail these Forms 1099-INT, they only provide them by download.
If this was a paper bond cashed at a bank, the bank is responsible for issuing the Form 1099-INT.
I cashed some in at Wells Fargo. They said I wouldn't get a 1099INT for it but they sent me one in January!