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pstulip
Level 2

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

Do I enter Total Interest Reported line from the 1099-INT on the tax form for Box 3?
11 Replies
gloriah5200
Expert Alumni

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

yes you would use the annual interest paid

pstulip
Level 2

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

Thank you for your reply. So do I need to enter the Accrued Interest Reported anywhere?

Cynthiad66
Employee Tax Expert

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

No.  The regular interest that your HH bonds earn every six months must be reported on your federal income tax return for the year in which the interest is earned. By January 31 of each year, we send the bond owner an IRS Form 1099-INT form showing the interest earned in the previous year.  So the accrued interest is covered in the 1099INT.

Ashland
Level 1

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

I received two 1099-INT forms for three Series HH Bonds, that had matured and were cashed-in upon their expiration. My questions are: Do I report both the Annual Interest Paid and the Accrued Interest Reported; and where or how do I report the cash received from the bonds, I did not receive any form for this amount.

What I received:

1099-INT Form 1--Box 3, shows only Annual Interest Paid, which I reported in my tax return.

1099-INT Form 2--Box 3, shows an Accrued Interest amount in both columns. Meaning the Accrued Interest amount is listed at the top and bottom of the Accrued column, and then it is listed again at the bottom of Annual Interest Paid column next to the line reading "Total Interest Reported." Do I report this amount, too?

 

Finally, where or how do I report the amount I received for the cashed bonds? Or do I? If I report this amount and the Accrued Interest amount, the amount would equal more than I actually received.

Ashland
Level 1

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

I received two 1099-INT forms for three Series HH Bonds, that had matured and were cashed-in upon their expiration. My questions are: Do I report both the Annual Interest Paid and the Accrued Interest Reported; and where or how do I report the cash received from the bonds, I did not receive any form for this amount.

What I received:

1099-INT Form 1--Box 3, shows only Annual Interest Paid, which I reported in my tax return.

1099-INT Form 2--Box 3, shows an Accrued Interest amount in both columns. Meaning the Accrued Interest amount is listed at the top and bottom of the Accrued column, and then it is listed again at the bottom of Annual Interest Paid column next to the line reading "Total Interest Reported." Do I report this amount, too?

 

Finally, where or how do I report the amount I received for the cashed bonds? Or do I? If I report this amount and the Accrued Interest amount, the amount would equal more than I actually received.

JillS56
Expert Alumni

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

1099-INT Form 1--Box 3, shows only Annual Interest Paid, which I reported in my tax return.     Report whatever is reported on the 1099-INT and in the box number it is reported.   If there is an amount in Box 3, then enter that amount in Box 3 in TurboTax.   

 

1099-INT Form 2--Box 3, shows an Accrued Interest amount in both columns. Meaning the Accrued Interest amount is listed at the top and bottom of the Accrued column, and then it is listed again at the bottom of Annual Interest Paid column next to the line reading "Total Interest Reported." Do I report this amount, too?  Enter the amount that shows in Box 3 of the 1099-INT.  Again, report whatever is on the 1099-INT in the boxes it is reported on the 1099-INT.

 

   

Ashland
Level 1

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

I will report both amounts (annual and accrued interest) listed in box 3 from each 1099-INT.

I do not report the bond amount received? 

RobertB4444
Employee Tax Expert

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

@Ashland  You will report every number on your 1099-INT to the software otherwise the software won't know about it and won't do anything with it.

Ashland
Level 1

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

@RobertB4444 The three HH Series matured bonds were cashed-in and I received 1500 + 67.50. 

The first 1099-INT has 11.25 (annual interest) in Box 3. The second 1099-INT has 847.98 in Box 3 under the accrued interest column, then it is carried over to the total under the annual interest column (still Box 3). 

Both 11.25 and 847.98 from the 1099-INT forms were entered into my tax return.

 

My question has to do with the cashed-in amount received from the bonds 1500+67.50?  In Publication 550, there's no mention of what to do with cashed-in amounts. It reads as if you just report what's on the 1099-INT forms only. ??? 

 

Or do I subtract 1567.50 from 859.23 (11.25 + 847.98)  to report the difference 708.27 under Misc income.

RobertB4444
Employee Tax Expert

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

No.  You are only reporting the interest earned.  You paid for the bonds when you bought them (or when they were bought for you).  The $708.27 is theoretically what you paid for them.  Either way DO NOT enter any numbers not on the 1099-INT.

Ashland
Level 1

I have a 1099-INT from a Series HH Bond that matured. In box 3, there is Annual Interest Paid and Accrued Interest Reported, what do I actually enter on the tax form?

@RobertB4444 Thank you for the quick response! Best Regards.

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