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bobbymc_1
New Member

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

 
1 Best answer

Accepted Solutions
MargaretL
Expert Alumni

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

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;

View solution in original post

5 Replies
MargaretL
Expert Alumni

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

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;

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

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
Returning Member

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

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

denromich
Returning Member

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

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
Intuit Alumni

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

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 

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