Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 22, 2021 11:47:25 AM

I recieved Savings bond interest on a form 5620. Where do I report it?

0 1 492
1 Replies
Expert Alumni
Feb 22, 2021 12:14:43 PM

You can enter your savings bond interest by following these steps:

  1. When you are in your tax return, go to the Wages & Income tab. 
  2. Scroll to the Interest and Dividends section and click the Start/Revisit box next to Interest on 1099-INT.
  3. On the screen Did you receive any interest income? click the Yes box,
  4. On the screen, Let's import your tax info, click the box at the bottom Change how I enter my form.  
  5. On the next screen, How do you want to add your 1099-INT, click the box Type it in myself.  
  6. Enter the interest on the next screen.  Saving bond interest should be entered in box 3. 
  7. NOTE:   If you are using the CD/Download version of TurboTax, click the box My form has info in more than just box 1.  Then enter the savings bond interest in box 3.  [See screenshot below.]

The interest that your savings bonds earn is subject to federal income tax, but not to state or local income tax.