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cddeer
New Member

How do I report exclusion of interest from series EE savings bonds?

 
3 Replies
DawnC0
Intuit Alumni

How do I report exclusion of interest from series EE savings bonds?

See the instructions below to report and excluded your Series EE interest.  

You report Savings Bond interest from 1099-INT as interest income.  

  1. Select Federal Taxes tab 
  2. Select Wages & Income
  3. Choose I'll choose what to work on 
  4. Select Interest and Dividends
  5. Locate the option Interest on 1099INT  and click the Start /Update button
  6. Select "Yes" Did you receive any interest income?
  7. On the "Let Us Enter Your 1099-INT" screen, scroll down and press "I'll type it in myself"
  8. On the "Let's get the details from your 1099-INT or brokerage statement" screen, be sure to check the checkbox for "My form has info in more than just box 1 (this is uncommon)" 
  9. Enter in the Savings Bond interest into Box 3
  10. You can now add Box 3 interest from your savings bonds.
  11. Continue along with answering the questions in the following screens and pressing "Continue"
  12. If you reach the "Did you cash any Series EE or I U.S. savings bonds?" screen, press "Yes" if you did
  13. On the "Did you use your U.S. savings bonds to pay for higher education expenses?" screen, press "Yes" if you used your savings bonds for educational costs
  14. If you qualify, TurboTax will help you to record your exclusion of savings bond interest for Form 8815 on a series of screens.
cbtaxusa
New Member

How do I report exclusion of interest from series EE savings bonds?

I followed the above but am not getting the promptDid you cash any Series EE or I U.S. savings bonds?

BarbL
Employee Tax Expert

How do I report exclusion of interest from series EE savings bonds?

The question "Did you cash any Series EE or I U.S. savings bonds?" Should appear on the page after the "Here's your 1099-INT Info" summary page (see below). 

 

If you are not seeing the question, please double-check your entries by selecting Edit next to the Savings Bond Interest entry.  Be sure you entered an amount in Box 3 for Interest on U.S. Savings Bonds. If you did enter an amount in Box 3 and the question is not triggered, please delete the savings bond entry (using the trash can next to 'Edit') and re-enter the info. 

 

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