Subtracting interest on EE Bond that was reported last year.

I had an EE Bond mature in 2021 but was cashed in 2022. According to Treasury Direct, the interest on EE Bonds should be reported the year the bond matured. Therefore, I amended my 2021 return to include the interest on the bond. The bank I cashed the bond at sent me a 1099 for 2022. Since I already paid taxes on the interest, how do I make a subtraction on my 2022 tax return?

340

Level 15

Feb 25, 2023 6:32:57 PM

To adjust Saving Bond Interest……

Enter the total amount of interest report on the 1099-INT in box 3.

Click continue

The next screen says "Do any of these apply"

check the I need to adjust the amount

You will get to the report interest adjustment page

enter the amount already reported in the adjustment box and check this savings bond interest was previously reported

Returning Member

Feb 25, 2023 6:37:24 PM

VolvoGirl, you rock. Thanks so much.

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Subtracting interest on EE Bond that was reported last year.