Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
27deer
New Member

I should be paying tax on interest from US savings bonds that I redeemed. But turbo tax isn't including it even though I entered it. What should I do?

 
3 Replies
RayW7
Expert Alumni

I should be paying tax on interest from US savings bonds that I redeemed. But turbo tax isn't including it even though I entered it. What should I do?

To enter interest earned on U.S. savings bonds in TurboTax, you enter it in the same fashion as if it were reported to you on a Form 1099-INT, in Box 3, " Interest on U.S. Savings Bonds and Treas. obligations" - please see the following TurboTax FAQ,"Where do I enter Form 1099-INT?":

 

https://ttlc.intuit.com/replies/3300478

 

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

  1. Open (continue) your return if it's not already open.
  2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
  3. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income.
  4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.
27deer
New Member

I should be paying tax on interest from US savings bonds that I redeemed. But turbo tax isn't including it even though I entered it. What should I do?

I entered the savings bond info on the interest section. It shows that it is entered correctly. But later when it shows interest income, the bond interest isn't there! I don't know how else to get it to show. Any suggestions?

ThomasM125
Expert Alumni

I should be paying tax on interest from US savings bonds that I redeemed. But turbo tax isn't including it even though I entered it. What should I do?

It may show as taxable on your tax return, form 1040, even if it doesn't show on the summary menu. You can look at your form 1040 in the desktop version of TurboTax by using the following menu tabs in TurboTax:

  1. Tools
  2. Tax Tools (left side of the menu bar)
  3. View Tax Summary
  4. Preview my 1040 (left menu bar)

You should see the taxable interest amount on line 2b of your form 1040.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v