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Riley6464
New Member

Treasury bills

Since treasury bills aren’t taxed by the state, shouldn’t interest earned be deducted on the California state form?

I noticed that interest from treasury bills was not deducted from state income.  

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1 Reply

Treasury bills

Treasury and Saving bond interest is not taxed on most state returns.  Turbo Tax will automatically exclude it on the state return.  Enter it in box 3, not box 1.  You have to check the little box under box 1 that says my form has more boxes for it to open up.

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