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adpcroll
New Member

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

 
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8 Replies

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

This number will be found in the box marked Payer TIN on your Form.

 

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adpcroll
New Member

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

There was no Employer's TIN on the statement from the bank where I cashed the savings bonds, only Item 3 where it showed the amount of interest.  TurboTax keeps asking me to review and not sure if I should just ignore this or not.  In the old TurboTax there was a special section to report interest from Savings Bonds.

ErnieS0
Expert Alumni

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

You do not need to enter a FEIN if you type in your U.S. Savings Bond interest yourself.

 

  1. Type interest in Search in the upper right
  2. Select Jump to interest
  3. Say YES to Did you have investment income in 2022?
  4. Continue past Get ready to be impressed
  5. On Let’s import your tax info go to the bottom and select Enter a different way
  6. On OK, let's start with one investment type, select Interest, then Continue
  7. On How do you want to enter your 1099-INT, select Type it in myself
  8. On Let’s get the info from your 1099-INT enter U.S. Treasury as the payer
  9. Enter your interest in Box 3
  10. When you get to the screen "Your investments and savings" delete your other entry
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steveh54
New Member

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

There isn't a Box 3 on my edition of Turbotax for 2022 only Box 1.  How do I find Box 3?

Also do I put the Bank that cashed in my bonds as the payer or US Treasury?

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

Look at the entry page that shows box 1 again

....there is a Checkbox on that same page , and when you check it, all the other boxes show up.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
PattiF
Expert Alumni

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

If you follow the steps listed above from ErnieSO, you will see Box 3 to the right of Box 1 on the interest form. Make sure that you choose to Type it in yourself.

 

 You would use US Treasury as the payer.  

 

@steveh54 

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I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

Enter Savings Bond interest like a 1099Int under

Federal Taxes tab

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

 

On the import screen scroll down and pick I'll enter it myself.

 

Type any description like Savings Bond Accrued Interest

Savings Bond interest goes in box 3.

 

If this was an electronic I bond, you can log in to your TreasuryDirect account and download the Form 1099-INT.  TreasuryDirect does not mail these Forms 1099-R, they only provide them by download.

 

If this was a paper bond cashed at a bank, the bank is responsible for issuing the Form 1099-INT.

 

I cashed some in at Wells Fargo.  They said I wouldn't get a 1099INT for it but they sent me one in January!  

I have a 1099-Int from Savings Bonds. Turbo Tax wants me to enter a FEIN to finish. What should I do?

Ahhhh, it is the Desktop software where you have to check a box to see box 3 and everything else.

 

This user claimed they are using "Online" software.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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