Interest Income from Multiple I Savings Bond

andrew0071 · ‎March 30, 2025

I cashed out multiple I Savings Bond this year. Can I report all interest incomes added up in a single input or do I have to input individual interest income SEPARATELY?

Thank you.

SabrinaD2

You can report the interest income from multiple I Savings Bonds in TurboTax, as a single input or multiple inputs. Here are some options.

If You Received Only One 1099-INT:

Combine Interest: You can add up all the interest from your I Savings Bonds and report it as a single entry.
Enter in TurboTax: Use the search box (magnifying glass icon) at the top right, type "Savings Bond," and click on the "Jump to Savings Bond" link. Enter the total interest amount in Box 3 (Interest on U.S. Savings Bonds and Treas.Obligations)

If You Received Multiple 1099-INTs:

Enter Each 1099-INT Separately: To ensure the amounts match IRS records, enter each 1099-INT form individually.
Enter in TurboTax: Use the search box (magnifying glass icon) at the top right, type "1099-INT," and click on the "Jump to 1099-INT" link. Enter the details from each 1099-INT form separately

Alternative Option: If you did not receive 1099-INT(s)

Combine Interest Without Waiting for 1099-INT: If you choose not to wait for the 1099-INT forms, you can combine the interest amounts and report them as a single total. Use the search box, type "Savings Bond," and follow the prompts to enter the combined interest

Refer to the TurboTax Community

View solution in original post

SabrinaD2

You can report the interest income from multiple I Savings Bonds in TurboTax, as a single input or multiple inputs. Here are some options.

If You Received Only One 1099-INT:

Combine Interest: You can add up all the interest from your I Savings Bonds and report it as a single entry.
Enter in TurboTax: Use the search box (magnifying glass icon) at the top right, type "Savings Bond," and click on the "Jump to Savings Bond" link. Enter the total interest amount in Box 3 (Interest on U.S. Savings Bonds and Treas.Obligations)

If You Received Multiple 1099-INTs:

Enter Each 1099-INT Separately: To ensure the amounts match IRS records, enter each 1099-INT form individually.
Enter in TurboTax: Use the search box (magnifying glass icon) at the top right, type "1099-INT," and click on the "Jump to 1099-INT" link. Enter the details from each 1099-INT form separately

Alternative Option: If you did not receive 1099-INT(s)

Combine Interest Without Waiting for 1099-INT: If you choose not to wait for the 1099-INT forms, you can combine the interest amounts and report them as a single total. Use the search box, type "Savings Bond," and follow the prompts to enter the combined interest

Refer to the TurboTax Community

andrew0071

Great, TY. I have another question regarding expenses for a passive rental property. When I entered my expenses related to repair, management etc. these reduced my overall tax amount due [as shown in the Federal Tax Due box at the top of the page]. However, when I entered my insurance premiums and property taxes paid, instead of the due amount reducing it actually went up. Is this right?

MaryK4

Taxes are a moving target so there are many thing that could affect this. It is possible that you reached the maximum special loss allowance (which would depend on your income). @andrew0071

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Interest Income from Multiple I Savings Bond