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Form 8815 and Schedule B interest

TT Premium keeps saying that the Series I Savings Bond interest on line 6 of Form 8815 is larger than the amount entered on Schedule B, even though they are exactly the same. The only thing I can think of is that TT is only recognizing regular interest income in Box 1 (which is $0 for I bonds), and not the US Savings Bond interest in Box 3. It won't let me file electronically unless I "fix" this "error". Anyone know how to resolve this issue?

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1 Best answer

Accepted Solutions
CatinaT1
Expert Alumni

Form 8815 and Schedule B interest

Delete the 1099-INT and re-enter it.

 

  1. On the menu bar on the left that shows. 

  1. Select Tax Tools 
  2. On the drop-down select Tools 
  3. On the Pop-Up menu select Delete a Form 
  4. This will give you all of the forms in your return 
  5. Scroll down to the form you want to delete 
  6. Select the Form 
  7. Click on Delete

Always use extreme caution when deleting information from your tax return.  There could be unintended consequences. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
CatinaT1
Expert Alumni

Form 8815 and Schedule B interest

Delete the 1099-INT and re-enter it.

 

  1. On the menu bar on the left that shows. 

  1. Select Tax Tools 
  2. On the drop-down select Tools 
  3. On the Pop-Up menu select Delete a Form 
  4. This will give you all of the forms in your return 
  5. Scroll down to the form you want to delete 
  6. Select the Form 
  7. Click on Delete

Always use extreme caution when deleting information from your tax return.  There could be unintended consequences. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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