Where do I enter US savings bond redemption using basic turbo Where do i enter estimated tax paid this year.

[MargaretL · Accepted solution]

The U.S. savings bond redemption is reported as follows:

1. Federal Taxes
2. Wages & Income
3. Interest & Dividends, select Interest on 1099-INT - be sure to check the box My form has info in more than just box 1

Note: If the bank where you cashed the bonds does not issue the form 1099-INT - in TurboTax - you should report the interest AS IF you received the form. Use the bank name as the payer and enter the interest in box 3; no additional reporting is need.

The estimated taxes paid (federal, state and local) data entry is as follows:

1. Federal Taxes
2. Deductions & Credits
3. Scroll down to Estimates and Other taxes Paid
4. Select Estimates - enter your payments; any state/local payments are automatically transferred to their respective returns;

[Dean Ferguson]

see from your message as how to enter interest for Savings Bonds, but I understand that there is no state tax.  How do I enter the interest for the Federal tax but not the state.

[denromich]

Does turbotax online handle the 1099-INT for redeemed savings bond interes

[denromich]

I redeemed 92 savings bonds and got a big federal interest check but had to buy a turbotax deluxe CD to enter the 1099-INT because turbotax online free edition could not handle it and I am going to try to use turbotax free next year but will it handle savings bond interest?

[CarissaM]

Please review the form here, as this will show which products can handle each form. 

Please let us know if we can assist you further. @denromich