Solved: TurboTax tax is not subtracting dividends from U.S. obligations from my federal taxable income. Why not, and how do I fix it?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
clljones1
New Member

TurboTax tax is not subtracting dividends from U.S. obligations from my federal taxable income. Why not, and how do I fix it?

For two 1099-DIVs, I answer YES to the question Are any of these dividends interest from U.S. government obligations, and enter the amounts.  Yet the amounts never appear anywhere on a form or worksheet, and all of my dividend income is included in federal taxable income.  I need to know how to make this right!

1 Best answer

Accepted Solutions
SteamTrain
Level 15

TurboTax tax is not subtracting dividends from U.S. obligations from my federal taxable income. Why not, and how do I fix it?

...that only affects state taxes (if you live in an income-taxing state). 

 For Federal taxes, all Federal obligation interest is still federally taxable.....it doesn't get taxed by the state.

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

View solution in original post

1 Reply
SteamTrain
Level 15

TurboTax tax is not subtracting dividends from U.S. obligations from my federal taxable income. Why not, and how do I fix it?

...that only affects state taxes (if you live in an income-taxing state). 

 For Federal taxes, all Federal obligation interest is still federally taxable.....it doesn't get taxed by the state.

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

View solution in original post

Dynamic AdsDynamic Ads
v
Privacy Settings