Savings bond interest?

emezinis — Thu, 06 Jun 2019 09:56:33 GMT

In the summer of 2016, I cashed in savings bonds that matured in 2014 and 2015. I then amended those tax returns and paid the additional tax for those years. Now my 2016 1099-INT includes the interest for these savings bonds. Do I enter the total interest amount or should I subtract the bonds interest as I have already paid taxes on that? If I enter the total amount, do I then list what I paid as additional payments to the IRS for 2016?

You should enter only the interest you have not yet paid...

DianeW — Thu, 06 Jun 2019 09:56:35 GMT

You should enter only the interest you have not yet paid tax on. You do not enter any amount as payments made to the IRS.

As you enter your savings bond interest you will check the box that you need to adjust the amount. (see image attached)

You can go directly to the area to enter your information.

Sign into your TurboTax account (online or desktop)
Use the search box in the upper right
Search for 1099int
Jump to 1099int (see image attached)
Continue to make the proper entries
Click the images to enlarge and view for assistance

topic Savings bond interest? in Investors & landlords

Savings bond interest?

You should enter only the interest you have not yet paid...