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dani96gopack
New Member

I had saving bonds that I cashed this year. What area do I put that in?

 
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Accepted Solutions
MargaretL
Employee Tax Expert

I had saving bonds that I cashed this year. What area do I put that in?

Cashing savings bonds is reported on form 1099-INT. Please follow steps below for data entry:

  1. Federal Taxes
  2. Wages & Income
  3. Interest & Dividends, select Interest on 1099-INT - be sure to check the box My form has info in more than just box 1 (see pic)

Note: If the bank where you cashed the bonds does not issue the form 1099-INT - in TurboTax - you should report the interest AS IF you received the form. Use the bank name as the payer and enter the interest in box 3; no additional reporting is needed. 

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1 Reply
MargaretL
Employee Tax Expert

I had saving bonds that I cashed this year. What area do I put that in?

Cashing savings bonds is reported on form 1099-INT. Please follow steps below for data entry:

  1. Federal Taxes
  2. Wages & Income
  3. Interest & Dividends, select Interest on 1099-INT - be sure to check the box My form has info in more than just box 1 (see pic)

Note: If the bank where you cashed the bonds does not issue the form 1099-INT - in TurboTax - you should report the interest AS IF you received the form. Use the bank name as the payer and enter the interest in box 3; no additional reporting is needed. 

View solution in original post

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