topic Are u s savings bonds taxable in new York state in Investors & landlords

Are u s savings bonds taxable in new York state

vp0706 — Thu, 06 Jun 2019 14:21:22 GMT

No, they are not. The amount of interest is adjusted on...

CherylW — Thu, 06 Jun 2019 14:21:24 GMT

No, they are not. The amount of interest is adjusted on S-121 of IT-225-I.

This, from the instructions:

Certain investment income from U.S. government agencies Enter any interest or dividend income on bonds or securities of any U.S. authority, commission, or instrumentality that is exempt from state income taxes under federal laws (but included in federal income).

Re: No, they are not. The amount of interest is adjusted on...

bfypeony2020 — Sat, 30 Jan 2021 20:45:05 GMT

well mine is not adjusting, don't know what's wrong

Re: No, they are not. The amount of interest is adjusted on...

AnnetteB6 — Sun, 31 Jan 2021 19:36:16 GMT

Double check the interest income section in your Federal return to be sure that the savings bond interest was reported in box 3 of the Form 1099-INT instead of box 1.

Use the following steps to go back to that section:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “1099-INT” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to 1099-INT”
Click on the blue “Jump to 1099-INT” link
Edit your entry to review where the savings bond interest was reported

If you find an issue and make a correction you may need to go back through the NY return so that it will update.

@bfypeony2020