reporting interest on saving bonds

[captkarl]

In reporting interest on US Saving Bonds, the turbo tax form has three columns (interest, tax-exempt interest, and US treasury interest.    how do I the form to recognize that I want to enter interest from the US Treasury.  Form seems to only permit me to put the info into the interest column.

[Mike9241 · Accepted solution]

after you enter who it was received from there should be a box below that says my form has more info.... check it then the form will open up to allow entry in multiple boxes including box 3 for US interest. 

[captkarl]

thanks for the reply ---- it worked.

[VV2517]

How to report U.S. E Bond interest 

[JohnB5677]

If you've received interest on savings bonds you should receive a 1099-INT.  This is the reporting document for interest.

The entry process is the same regardless if you received from the IRS or a bank.

• Go to Wages & Income
• Work on other income
• Select Interest on 1099-INT (You may have to scroll down to get it.)
• Did you receive any interest income? Yes
• Scroll down to Change how I enter my Form
• Scroll down to Type it myself
• Follow screens to enter the information

[Guarnery]

How do I report Interest on EE Saving Bonds?

[rick119]

How does TT identify the interest as non-taxable for state income purposes?

[DianeW777]

When you enter your interest income from savings bonds the box where it is reported is identified and this provide TurboTax the information that this is not an income that is taxable to any state. TurboTax will not tax U.S. savings bond interest on your state return.  Box 3, Form 1099-INT is always reserved for savings bond interest. See the image below.

@rick119

[2197654104]

i had $4249 interest from us savings bonds that was not taxable by the state in Indiana but there were no questions from turbo tax to record this on my return. I thought it would automatically be picked up from my federal form schedule b but when i viewed the Indiana return after it was filed i found it was not and i lost over $200 in my return as a result.

[2197654104]

I can not find my federal or state of Indiana tax returns when I open turbotax program. I click on find my return  on home page but it says none exist.

[SForrestLO]

Please try updating the software.

Manually Update TurboTax for Windows Software (Basic, Deluxe, Premier, Home & Business)

@2197654104

[DaveF1006]

No. You actually need to put this into your state return in order to claim the deduction. To claim, edit your Indiana State return.  When you get to a screen that says Here's the income that Indiana handles differently, scroll down to Miscellaneous>Indiana-only Tax exempt Bond Deductions. Here is where you will claim the deduction.

Keep in mind, you can only claim this deduction if you had interest from a bond issued by or in the name of certain Indiana government subdivisions or entities or amounts received upon redemption or maturity of the bond, the amount of interest or other income included in federal gross income can be deducted on Indiana Return.

@2197654104