Treasury Bill Interest

Based on prior responses to where/how is Treasury Bill Interest reported so that it is not included in State taxable Income, the answer seems to be to report it in Box 3, not box 1. How/where is the tax WITHHOLDING on treasury Bill Interest reported?

Disappointed that Turbo Tax has still not resolved this problem in their software.

1381

Employee Tax Expert

Feb 12, 2025 6:38:08 AM

If you do have withholding from a 1099-INT for your Treasury Bill interest you can enter the federal withholding in the 1099-INT entry by selecting the check box 'My form has info in other boxes (this is uncommon).'

If it is not on a 1099-INT use the following steps below.

Open your TurboTax Online/Mobile return > Select Tax Home (left) > Select Deductions & Credits > Review/Edit
Scroll to Estimates and Other Taxes Paid > Select Income Taxes Paid > Select Other Income Taxes Paid in 2024
Select Withholding not already entered on a W-2 or 1099 > Start > Continue to add your withholding
- TurboTax Desktop follow these steps starting with: Select Deductions and Credits

Level 1

Feb 12, 2025 10:29:00 AM

Thank You! I did not initially check My form has info in other boxes (this is uncommon) because it says it's uncommon! Problem Solved!

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Treasury Bill Interest