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Level 2
posted Feb 16, 2024 7:53:52 AM

NC Deduction for US Treasury Interest

Does TurboTax automatically adjust (remove) US Treasury Interest earned? In looking at the NC State form 400, line 18, (Interest Income from Obligations of the US ...) there was no removal of US Treasury Interest. I manually entered it, but want to verify that it was not removed somewhere else in the program.

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1 Best answer
Level 15
Feb 16, 2024 8:18:40 AM

Q. Does TurboTax automatically adjust (remove) US Treasury Interest earned?

A. Yes.

 

You have to be sure that the US Treasury Interest in entered in box 3, at the 1099-INT screen.  When you first see that screen, check the box "my1099-Int has more than just a box 1", to get access to box 3. 

1 Replies
Level 15
Feb 16, 2024 8:18:40 AM

Q. Does TurboTax automatically adjust (remove) US Treasury Interest earned?

A. Yes.

 

You have to be sure that the US Treasury Interest in entered in box 3, at the 1099-INT screen.  When you first see that screen, check the box "my1099-Int has more than just a box 1", to get access to box 3.