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Putt1608
Returning Member

exemping u s savings bond interest from an Arkansas return

 
4 Replies
Hal_Al
Level 15

exemping u s savings bond interest from an Arkansas return

Savings bond interest is shown in box 3 of form 1099-INT.  If you enter the 1099-INT, in TurboTax (TT), exactly as received, TT will automatically exclude it from the AR state return.

 

If you have US savings bond interest, not shown on a 1099-Int, enter it at the 1099-INT screen, in TT, anyway

DawnC
Expert Alumni

exemping u s savings bond interest from an Arkansas return

Where did you enter the interest (what box of the 1099-INT) on the federal return?  You should not have to make an adjustment to your state return.  But if you do need to remove the interest, you will be given the option to when you go through the Arkansas return.   You will come to a screen that says 'Tell Us About Any Tax Exempt Income''.   You can use this section to remove any income that was included from your federal return.  

 

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Putt1608
Returning Member

exemping u s savings bond interest from an Arkansas return

Tried that and it didn't work. Returned to fed interest reporting and change Savings Bond to Box 3. This did not impact fed return, but did remove it from state and posted to this screen automatically for one spouse, but not the other.

Thanks for your response

Putt1608
Returning Member

exemping u s savings bond interest from an Arkansas return

Thanks, first time to have Savings Bond interest. The form I got from the bank did not specify it was Box 3 Interest, but a small paragraph on the bank noted how to report. I was able to re-post as box 3 and this corrected the problem.

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