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turbotax on mac not allowing adjustment for interest of us obligations

this is my 1st year using the mac Turbotax but I've used windows turbotax for years.

 

This mac version is not allowing the selection : A portion of these dividends is US Government interest. , when I enter Div and Int forms in Federal tax. The selection does not appear in the list. It has always appeared in the window version.

 

Is this an error in the mac version?

 
 

 

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turbotax on mac not allowing adjustment for interest of us obligations

For the 1099-INT, the US Treasury obligations show in box 3 of the 1099-INT form, so there is no follow-up question needed for $$ showing there.

_______

I have Fidelity SPAXX too, and my Supplemental information sheets show that those $$ are only being reported on box 1a of a 1099-DIV form.  (Added to whatever else you may have that dumps $$ into box 1a of the 1099-DIV).  I don't think any of the SPAXX $$ end up on a 1099-INT.

 

The supplemental sheets only show the details on what went into the main 1099-INT or -DIV forms that show on the first page of their consolidated tax reporting PDF sheets.

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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8 Replies

turbotax on mac not allowing adjustment for interest of us obligations

Coud be....it should only appear as a part of the 1099-DIV entry....not for a 1099-INT.

 

Edit your 1099-DIV and check again.

 

@macuser_22    Do y'all have a desktop MAC screenshot?

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

turbotax on mac not allowing adjustment for interest of us obligations

For North Carolina, both dividend and interest of US Obligations are non-taxable.

The Turbotax option is missing from both Interest and Dividend in the user interface.

Evidence of NC tax law is attached. Here's a screen shot of NC Income Tax Schedule S.
Screenshot 2024-03-03 at 9.43.57 AM.png

turbotax on mac not allowing adjustment for interest of us obligations

 

We know they are allowed for NC,  we definitely see the 1099-DIV follow-up page option you first posted in the "Windows" version.

 

I don't have the MAC version, so I can't tell if it's there or not.

______________________

Certainly any $$ in box 3 of a 1099-INT "should" transfer to the NC Sched S properly.

 

We need another MAC user to check to see what the problem might be for a 1099-DIV on a MAC.

___________________________

@VolvoGirl   @xmasbaby0    Didn't one of you used to use a MAC with desktop software??, and can you check a 1099-DIV entry serries for that follow-up page selection  for.... "This mac version is not allowing the selection : A portion of these dividends is US Government interest." (as originally posted by the OP).  Is that selection in the MAC desktop version or not??

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

turbotax on mac not allowing adjustment for interest of us obligations

@SteamTrain I would like to help here---I am a Mac user.  But.....currently experiencing some issues that are going to land me in the Apple store to consult a "genius" very soon, so I cannot get to the section you are asking about.  And...have not even downloaded 2023 yet--- I wait until at least mid-March!

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

turbotax on mac not allowing adjustment for interest of us obligations

I apologize. Going back and forth to see what Windows did vs. what Mac does has confused me greatly.

Esp. since for NC both div and int of US Obligations are not taxable.

I DO NOW see the correct option for Dividends.  Excellent! Thank you.

 

I do not see the correct option for Interest. Therefore, I am deleting my downloaded 1099-Int form and instead manually creating a Dividend entry for same amounts.

 

For whatever reason, Fidelity is reporting interest/dividends for same fund SPAXX in 2 different accounts.....one as 1099Int and one as 1099div.

 

Maybe this will work.  (Head banging on wall :-))

 

Thank you.

turbotax on mac not allowing adjustment for interest of us obligations

For the 1099-INT, the US Treasury obligations show in box 3 of the 1099-INT form, so there is no follow-up question needed for $$ showing there.

_______

I have Fidelity SPAXX too, and my Supplemental information sheets show that those $$ are only being reported on box 1a of a 1099-DIV form.  (Added to whatever else you may have that dumps $$ into box 1a of the 1099-DIV).  I don't think any of the SPAXX $$ end up on a 1099-INT.

 

The supplemental sheets only show the details on what went into the main 1099-INT or -DIV forms that show on the first page of their consolidated tax reporting PDF sheets.

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

turbotax on mac not allowing adjustment for interest of us obligations

Thank you so much for your patience.

 

I need to sort through all these accounts. Now you have me thinking it is my own "tax" issue.

turbotax on mac not allowing adjustment for interest of us obligations

Now, what TTX doesn't allow for, in preparing NC tax returns,  is for $$ in box 1 of a 1099-INT that come from individual US "Agency" Bonds you might own.   Those $$ are not savings bonds, and are not US Treasury Bonds/notes and thus do not show in box 3.

 

For those, you'd just add a line to that NC Sched S in Forms Mode...TTX does allow it (but I don't know if you can still file if you do....I have one TVA bond, but don't bother trying to add it in since it would only save me a few $$ in NC taxes, and I'm not ready to push the issue.

__________________________________

These are the US "Agency" bonds, where interest may show up in box 1 of a 1099-INT...that could be allowed to be subtracted from NC income....but that doesn't mean you actually own any: 

(Item #1 on the list end up in box 8 of a 1099-INT and are dealt with there....the rest of the Agency $$ end up in box 1, and those require special treatment )

 

"In addition, the following are other current examples of issuers of bonds, notes or other direct obligations from which interest received is deducted from either federal taxable income or adjusted gross income , as appropriate:

1) Guam, Puerto Rico, or Virgin Islands
2) A Federal Land Bank
3) A Federal Home Loan Bank
4) A Farm Credit Bank
5) Export-Import Bank of the United States
6) Tennessee Valley Authority
7) Banks for Cooperatives
😎 Production Credit Associations
9) Commodity Credit Corporation
10) Federal Deposit Insurance Corporation
11) Federal Financing Bank
12) General Insurance Fund
13)United State Post Office
14)Resolution Funding Corporation
15) Financing Corporation (chartered by the Federal Housing Finance Agency)"

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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