Where/how do I list interest from US savings bonds?

[rcajb25]

The bonds were NOT cashed, I claim the interest each year so there is not a 1099-INT.

[Tonita]

To enter your savings bond interest:

1. Select Federal Taxes.
2. Select Wages & Income
3. Scroll down to Interest and Dividends group.
4. Click on the Start button to the right of the Interest on 1099-INT category.
5. Answer Yes to Did you receive any interest income?
6. Click I'll type it in myself
7. Click the box next to My form has info in more than just box 1 (this is uncommon) to show boxes 2-14.
8. Enter your interest in Box 3

[Dizz14--WC]

It's a more complicated problem...the bonds I redeemed in 2021 had been transferred to me in 2012, and at that time the interest accrued to that date had been paid.  So, technically, I should only owe taxes on the interest accrued since the 2012 date.  However, in the time between receiving the "hard copy" bonds in 2012 and their redemption in 2021, I placed them in TreasuryDirect.  TreasuryDirect has my 1099s (for four bonds) stating that I owe interest on the total amount of accrued interest.  I haven't found any method on the TurboTax Deluxe to explain this problem to the IRS; I have even spoken to a professional at TurboTax, with no resolution other than to place the partial interest to be taxed in in the line for "adjusted interest," and wait and see if the IRS has an issue.  And who really wants an audit.  Any thoughts?

[ErnieS0]

The TurboTax professional was correct in telling you that you can make an adjustment for previously taxed US Savings Bond interest @Dizz14-WC.

Here's how:

1. Enter your interest in Box 3 on Let's get the info from your 1099-INT
2. Check I need to adjust the interest reported on my form on Do any of these uncommon situations apply?
3. On Tell us about your interest adjustment enter the adjustment amount and This saving bond interest was previously reported

Your tax form will indicate this to the IRS.

[BrambleOn]

My wife redeemed paper US Savings Bonds as Agent for her 98 year old mother and had the money deposited directly into her mother's Wells Fargo checking account. Wells Fargo has not provided a 1099-INT and we don't know how to report the interest in Turbotax for her mother's tax return.

When the paper bonds were redeemed, Wells Fargo provided a "redemption statement" that looks like a 3"x6" cash register receipt stating "face value", "Interest", and "Current Value". The statement shows her mother's ID number corresponding to her social security number but there is no other information on it.

How do we enter the interest in her mother's tax return without a 1099-INT? Do we need to go back to Wells Fargo?

[Vanessa A]

To enter the interest she received, you can click the following:

• Federal
• Income
• Show More next to Interest and Dividends
• Start next to Interest on 1099-INT
• Walk through the steps and select I'll type it in my self
• Enter the bank name and amount of interest

You are fine to report this without the official bank documents as long as you are able to provide the correct number.