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lindvig28
Returning Member

Federal return has int on us savings bonds and treasury obligations of 1340. the PA state return for line 7 int from us govt only shows 779. why the difference?

 
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3 Replies
MarilynG1
Expert Alumni

Federal return has int on us savings bonds and treasury obligations of 1340. the PA state return for line 7 int from us govt only shows 779. why the difference?

Per PA Department of Revenue:

 

"Interest from direct obligations of the United States Government, the Commonwealth of PA and political subdivisions of Pennsylvania is not taxable for PA purposes.

 

The interest from U.S. Treasury Bonds, Notes, Bills, Certificates, and U.S. Savings Bonds is not taxable; the interest you receive from obligations of other states or countries is taxable income."

 

Click this link for more info on Pennsylvania Bond Interest

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lindvig28
Returning Member

Federal return has int on us savings bonds and treasury obligations of 1340. the PA state return for line 7 int from us govt only shows 779. why the difference?

I understand that.  The issue I have is the amount on the federal return isn't agreeing with the amount on the PA state return.  The federal return says there is 1340 of interest on US savings bonds, etc.  But the PA return is only showing 779.  It isn't transferring the same amount.  I am assuming that I am going to have to override at this point.

ThomasM125
Expert Alumni

Federal return has int on us savings bonds and treasury obligations of 1340. the PA state return for line 7 int from us govt only shows 779. why the difference?

When you enter your 1099-INT forms, for each one you have to indicate if the income belongs to Pennsylvania in order to have it treated properly, Maybe you can check each income entry to make sure it was entered properly, also you may be able to deduce which forms are creating  the problem by some simple math. It may be necessary to delete the trouble makers and re-enter them.

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