2022 Federal Return, Interest Income, listed some $11,720 as Dept of Treasury Interest.
South Carolina Department of Revenue Ruling #16-2 lists Treasury Bills and Treasury Notes as deductible.
The $11,720 did not flow over to the SC 1040, "SUBTRACTION FROM FEDERAL TAXABLE INCOME", line "m" as a deduction.
Is this an item that must be manually entered?
Sorry....I am running Turbotax Delux, I don't see that screen.....(almost wish I did) I am given the options to either load the 1099s individually or download them from a brokerage. Since 1099 from Treasury Direct are a printed, I load that one myself. 😀
Hey, thank you. I finally saw the little check-box that you indicated which allowed the proper characterization of the U. S. Treasury interest on my feds which allowed me to do an amended SC state return. That little check-box is not intuitively obvious at least for me. The SC amended return was a struggle but at least finally came to what I had worked out the long way (pencil and paper). Now is it worth my time and effort to go back and do 2021?
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