Where/how to Enter I Bond interest from Treasury Direct? Known Issue that TT cannot seem to answer?

[marychris0104]

I have IBond interest. I cannot find out how to enter this in TT.   From the comments in chat it seems this is a known issue. Human chat could not answer me. This is holding up my filing and I'm already late!

[VolvoGirl]

Did you get a 1099Int for interest?  It goes in box 3.  Then it won't be taxed on the state return.   You have to check the little box under box 1 that says my form has more boxes for it to open up.

Enter a 1099-Int  under

Federal Taxes or Personal (for Home & Business)

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start, Revisit Or Update button

Enter it manually.  Don't try to import it.  

[VolvoGirl]

Oh what is the "known" issue?  Probably for a state return?  

[DoninGA]

Simple.  Go to the section for entering a Form 1099-INT.  On the screen for entering the 1099-INT just click on the box labeled My form has info in other boxes and enter the interest in box 3.

To report interest income received -

Click on Federal Taxes (Personal using Home & Business)
Click on Wages and Income (Personal Income using Home & Business)
Click on I'll choose what I work on
Investments and Savings
On Interest on 1099-INT, click on the start or update button

Or enter interest income in the Search box locate in the upper right of the program screen. Click on Jump to interest income

On the screen Did you have investment income in 2023? Click on Yes

On the screen Let's import your tax info, click on Enter a different way

On the screen OK, let's start with one investment type, click on Interest and Continue

On the screen How would you like to upload your 1099-INT? Click on Type it in myself

[marychris0104]

I drive a 1996 850!! 

Yes, from the thread I have read that there could be a problem with entering the wrong thing in the box (3 should mean no State tax) and getting hit for state tax. I had to do a lot of my own research to figure out the answers. Someone said there is a glitch in this year's program. 

IF the chat had been able to answer my question yesterday, it would have saved me a lot of time. 

It's partly resolved - one problem was the Treasury Direct website - but I finally found the thing I needed.

[VolvoGirl]

Do you still need help?  Or did you find box 3 to enter it?