Treasury Direct

[2dwight]

Why is Turbo Tax so obtuse about entering interest from Treasuy Direct reported on 1099. It's not as if the US Treasury is some obscure state licensed credit union with 43 members. It should not be a special case that I have to read all the messages and figure out how to enter interest on bonds purchased from Treasury Direct. You need to fix this.

[6xjv556]

I agree.  The Federal "Guidance" on how to report info from the Treasury Direct 1099-INT, 1099-B and 1099-OID was no real help.  TurboTax should provide more assistance with this.  Maybe a few examples, especially for TIPS notes / bonds.

[DianeW777]

Reporting the interest, sales or original issue discount 1099s is the same as any company would be. The boxes of entry are important in relationship to the information received on your Treasury Direct report.

• Where do I report Form 1099-INT? - Box 3 is for US Bond interest
• Where do I enter Form 1099-OID?  - Box 11 is for Tax Exempt OID
• Where do I report Form 1099-DIV? - Box 12 is Exempt Interest Dividends 
  • For TurboTax Desktop: Search (upper right) > 1099div > Click the Jump to... link
• Where do I enter or import Form 1099-B? - A sale or redemption is not a tax free event.

All 'dividends' from a credit union are 'interest' for tax purposes. 

• IRS FAQ

@6xjv556 

@2dwight