topic Savings bond interest in Deductions & credits

Savings bond interest

Michael1646 — Tue, 09 Mar 2021 01:41:01 GMT

I prefer to claim the interest on my savings bond each year. How and where do I report this in turbo tax?

Re: Savings bond interest

JoannaB2 — Tue, 09 Mar 2021 02:12:14 GMT

The savings bond interest is reported on Form 1099-INT. To enter the savings bond interest in Turbo Tax:

Choose Federal, then jump to Wage and Income.
Scroll down and click add more income.
Choose Interest and Dividends, then click show more.
From the drop down menu, click Interest on 1099-INT.
Click yes "Did you receive any Interest income.
Let's import your tax info, click on the bottom right hand side "change how I enter my form", and click type it myself.
The next screen "Let's get info from your 1099-INT", enter the savings bond interest on Box 3 of the form

Re: Savings bond interest

Hal_Al — Tue, 09 Mar 2021 02:21:59 GMT

You should enter at the 1099-INT screen, even though you did not actually get a 1099-INT. This will not result in a fake 1099-INT being sent to the IRS.

Re: Savings bond interest

Michael1646 — Mon, 15 Mar 2021 06:03:02 GMT

what do I do for the EIN? Do I use my SSN?

Re: Savings bond interest

Hal_Al — Mon, 15 Mar 2021 12:22:36 GMT

The payer's TIN (EIN) is not needed. Do not use your own SS#.