My son has some US treasury bond and that was redeemed and he earned some interests ($4760). I'm trying to report this income.
In turbo tax, form mode, I'm seeing Form 8814 - part 1 - Child's Taxable Interest Smart Worksheet - line B (Interest from U.S. bonds, T-bills, etc(nontaxable to state) is $4760 which is expected.
however, on CA Form 3803, part 1, Child's Interest Income Smart Worksheet - line D (United States Saving Bonds, Treasury Bills or other direct federal obligations included in line A) is empty. turbo tax didn't input anything.
this has lead to the entire $4760 being treated as "other income" and not being substracted on ca 540 Schedule CA. Is this a bug? I see nowhere in the step-by-step mode i can make it fill in form 3803, part 1, line D
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If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help. If you would like to do this, here are the instructions: (Don't forget to give us the state- CA seems clear enough)
TurboTax Online:
Open your return -Go to the menu panel on the left side of your return and select Tax Tools.
TurboTax Desktop:
If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:
We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution.
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