topic PA State tax on federal savings bonds in State tax filing

PA State tax on federal savings bonds

ejchosky — Thu, 30 Jan 2020 18:57:41 GMT

I am preparing my federal and state taxes on TurboTax. It is showing taxed owed on the state of Pennsylvania. Correct tax was withheld from our w-2's It could only be due to savings bond interest entered from a 1099-INT or Social Security, both of which are NOT taxable in my state.

Re: PA State tax on federal savings bonds

AmyC — Thu, 30 Jan 2020 19:25:31 GMT

The PA forms you need all look available. There is an active issue with Social Security entry. I believe you may have been caught in that issue. I have availability dates expected for state forms but not for technical support. Please give the programmers a day or two to work on things.

If you will please double check there are no other PA forms affecting you.

Re: PA State tax on federal savings bonds

ejchosky — Thu, 30 Jan 2020 19:29:14 GMT

I have spoken to PA Dept of Rev - I just need my TTax to understand!

Re: PA State tax on federal savings bonds

ejchosky — Thu, 30 Jan 2020 19:33:24 GMT

There are entries that I have not yet entered, but the amount is exactly what would be due for the interest income received from the savings bond

Re: PA State tax on federal savings bonds

ejchosky — Thu, 30 Jan 2020 19:44:34 GMT

It gives me the option to adjust the income interest for PA Purposes, but I do not know how to go about that. The adjusted amount requires a positive number and it gives me choices of OID adjustment, accrued interest, nominee distribution, us savings bond previously reported or other adjustment. What figure would I have to enter in the box to remove the tax?

Re: PA State tax on federal savings bonds

ejchosky — Thu, 30 Jan 2020 19:46:24 GMT

ok - sorry for all these messages. put in the full amount, noted other adjustment - it took me to $0 owed. DONE!

Re: PA State tax on federal savings bonds

AmyC — Fri, 07 Feb 2020 01:06:55 GMT

I am so glad you were able to make it through! Congratulations and thank you for your information.