topic Re: missing returns in Get your taxes done using TurboTax

reporting interest on saving bonds

captkarl — Tue, 26 Jan 2021 16:05:13 GMT

In reporting interest on US Saving Bonds, the turbo tax form has three columns (interest, tax-exempt interest, and US treasury interest. how do I the form to recognize that I want to enter interest from the US Treasury. Form seems to only permit me to put the info into the interest column.

Re: reporting interest on saving bonds

Mike9241 — Tue, 26 Jan 2021 20:54:13 GMT

after you enter who it was received from there should be a box below that says my form has more info.... check it then the form will open up to allow entry in multiple boxes including box 3 for US interest.

Re: reporting interest on saving bonds

captkarl — Fri, 29 Jan 2021 15:10:20 GMT

thanks for the reply ---- it worked.

Re: reporting interest on saving bonds

VV2517 — Sun, 28 Feb 2021 17:04:00 GMT

How to report U.S. E Bond interest

Re: reporting interest on saving bonds

JohnB5677 — Sun, 28 Feb 2021 20:58:44 GMT

If you've received interest on savings bonds you should receive a 1099-INT. This is the reporting document for interest.

The entry process is the same regardless if you received from the IRS or a bank.

Go to Wages & Income
Work on other income
Select Interest on 1099-INT (You may have to scroll down to get it.)
Did you receive any interest income? Yes
Scroll down to Change how I enter my Form
Scroll down to Type it myself
Follow screens to enter the information

Re: reporting interest on saving bonds

Guarnery — Wed, 30 Jun 2021 15:15:09 GMT

How do I report Interest on EE Saving Bonds?

Re: reporting interest on saving bonds

rick119 — Fri, 21 Jan 2022 15:32:58 GMT

How does TT identify the interest as non-taxable for state income purposes?

Re: reporting interest on saving bonds

DianeW777 — Fri, 21 Jan 2022 15:58:22 GMT

When you enter your interest income from savings bonds the box where it is reported is identified and this provide TurboTax the information that this is not an income that is taxable to any state. TurboTax will not tax U.S. savings bond interest on your state return. Box 3, Form 1099-INT is always reserved for savings bond interest. See the image below.

@rick119

Re: reporting interest on saving bonds

2197654104 — Sun, 27 Feb 2022 23:36:20 GMT

i had $4249 interest from us savings bonds that was not taxable by the state in Indiana but there were no questions from turbo tax to record this on my return. I thought it would automatically be picked up from my federal form schedule b but when i viewed the Indiana return after it was filed i found it was not and i lost over $200 in my return as a result.

missing returns

2197654104 — Sun, 27 Feb 2022 23:46:52 GMT

I can not find my federal or state of Indiana tax returns when I open turbotax program. I click on find my return on home page but it says none exist.

Re: missing returns

SForrestLO — Mon, 28 Feb 2022 17:55:18 GMT

Please try updating the software.

Manually Update TurboTax for Windows Software (Basic, Deluxe, Premier, Home & Business)

@2197654104

Re: reporting interest on saving bonds

DaveF1006 — Wed, 02 Mar 2022 21:58:38 GMT

No. You actually need to put this into your state return in order to claim the deduction. To claim, edit your Indiana State return. When you get to a screen that says Here's the income that Indiana handles differently, scroll down to Miscellaneous>Indiana-only Tax exempt Bond Deductions. Here is where you will claim the deduction.

Keep in mind, you can only claim this deduction if you had interest from a bond issued by or in the name of certain Indiana government subdivisions or entities or amounts received upon redemption or maturity of the bond, the amount of interest or other income included in federal gross income can be deducted on Indiana Return.

@2197654104