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Schedule CA, taxable interest subtraction

Is there a way to see how TurboTax computes the entry for California Schedule CA, line 2, column B Taxable Interest Subtraction? In my case it seems to come exclusively from the Interest and Dividend Adjustments Worksheet line 1, Bonds or obligations of the United States or any of its territories. I expected this to come from form(s) 1099-INT, Box 3 (Interest on Treasury obligations), less Accrued (Treasury) interest paid, less (maybe) Treasury bond premium reported to me, but I can’t make the numbers add up; TurboTax seems to be giving me a larger subtraction than I deserve.

Thanks, DW

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1 Reply
DavidD66
Employee Tax Expert

Schedule CA, taxable interest subtraction

You can see the worksheet with calculation by printing (paper or pdf).  If you are using TurboTax Online, you can print your tax returns without filing.  If you want to review your return you will need to pay for TurboTax and then you will be able to print your entire return or specific forms/schedules prior to filing.  You will still be able to make changes prior to filing. Follow these steps to print a preliminary copy of our return in TuboTax Online:

 

  • While logged in and working on your return, click on Tax Tools
  • From the drop down menu click on Print Center 
  • Click on Print, save or preview this year's return
  • On the next screen click on "Pay Now
  • You may be prompted to "Go to My Info" if you need to add additional information
  • Submit your payment information and you will be able to print your tax returns

 

Note, you must pay by credit card in order print or preview your preliminary return.  You will not be able to pay using your federal tax return.

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