You can enter your savings bond interest by following these steps:
- When you are in your tax return, go to the Wages & Income tab.
- Scroll to the Interest and Dividends section and click the Start/Revisit box next to Interest on 1099-INT.
- On the screen Did you receive any interest income? click the Yes box,
- On the screen, Let's import your tax info, click the box at the bottom Change how I enter my form.
- On the next screen, How do you want to add your 1099-INT, click the box Type it in myself.
- Enter the interest on the next screen. Saving bond interest should be entered in box 3.
- 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.
