Hello,
I am puzzled to see a different amount in NC D-400 Schedule S line 18, which is interest income from obligations of the united states ( T-Bills, in my case). [ box 1 of t-bill 1099 ).
I don't know how Turbotax came to this amount? Is there a way to find out?
How close?
________
1) IF higher, It may include a sub-portion of $$ from box 1a of a 1099-DIV form that you indicated some smaller amount was from US Govt bonds.
2) If smaller, then the $$ in box 12 can reduce what is reported to NC.
3) If smaller, and you bought bonds, and paid accrued interest to the seller of the Treasury bond(s), then that chops it down when you enter the accrued interest paid on the follow-up page.
______________
4) If smaller, and you also had $$ in any two boxes, 1, or 8 on that same 1099-INT and reported accrued interest to a seller of one of those bond types (for boxes 1, or 3, or 8 ) then there are other issues that might need to be addressed.
How close?
________
1) IF higher, It may include a sub-portion of $$ from box 1a of a 1099-DIV form that you indicated some smaller amount was from US Govt bonds.
2) If smaller, then the $$ in box 12 can reduce what is reported to NC.
3) If smaller, and you bought bonds, and paid accrued interest to the seller of the Treasury bond(s), then that chops it down when you enter the accrued interest paid on the follow-up page.
______________
4) If smaller, and you also had $$ in any two boxes, 1, or 8 on that same 1099-INT and reported accrued interest to a seller of one of those bond types (for boxes 1, or 3, or 8 ) then there are other issues that might need to be addressed.