Did you cash in a savings bond and have a 1099-INT to report?
When you get to the 1099-INT section, there are many banks that are not in the list. You don't have to use that search line to look for your bank. That's looking for banks that can import documents. Instead, on that same page, scroll way down on the bottom right and click a gray button "I'll type it in myself."
Then on the next page, you can enter the name of your bank.
Is your interest in Box 3? To see all the boxes of your 1099-INT, look for a little checkbox that says "My form has more info...". When you click that checkbox, more data boxes will appear.
Here's a shortcut to get back to that place:
Yes I cashed it.
All I have is a receipt that the lady from the bank gave me....how do I put in that info with just a receipt
You should have received a 1099-INT from the bank.
Does the receipt tell you how much of the proceeds was due to the interest? i.e., does it tell you how much of it was interest?
Normally savings bond interest is reported in Box 3 of a 1099-INT. Does the receipt mention Box 3? When you expand the number of boxes on that screen, you should see Box 3.
You may have to ask the bank if you were supposed to receive a 1099-INT. Or does your receipt say that it is a "Substitute 1099-INT?"
I received a letter from the bank but it doesn't say anything except the amount for the "interest per bond" and that it was a EE savings bond I don't get any other from
The receipt shows how much the
"denomination"
"interest per bond"
"value per bond"
"Total value"
And the letter tells you to report it as a 1099-INT? If so, savings bond interest is reported in Box 3. You just report the interest amount, not the total proceeds.
I don't know why you didn't get a 1099-INT, unless that is some kind of "Substitute 1099-INT" that the bank uses.
There is a E.I.N number and a account number, is there a way in can enter in that info and it will pull all the info?
No. You said it couldn't find your bank in the import tool.
On that 1099-INT screen, online TurboTax shouldn't ask you for the bank's EIN number or your account number. Do you need me to make a screen image of what the 1099-INT entry screen looks like and Box 3?
I have added the 3 screen images to my original answer above.
think I got it....but what do I put in "box 1"
Its telling me "schedule B: Box 1 regular interest- enter the amount enter amount from 1099int form. Box 1, 3 or 8 for untitled"
The message you posted said "Box 1, 3, OR 8." It doesn't say you have to enter something in all of them. You only report your situation. It sounds like the message is telling you that no interest has been reported, and that you need to make an entry on it in Box 1, 3, OR 8.
Leave any boxes blank that you don't need. Savings bond interest is in Box 3.
It's possible to need more than one box if you have other items to report from that bank. Did you get other bank interest besides the savings bond interest? I won't know if you also received any regular bank interest on your deposit account. Box 1 is usually for interest on a bank checking/savings account, CD, etc.
It says "untitled" because you haven't yet entered the bank name.
Do I need to put the name of the bank the EE Bond came from or the name of the bank that cashed it. I only had the one EE Bond that was it!
I have the name of the bank that cashed it because I dont know the name of the bank that it came from! My family set that Bond up for me in 2002 and I had no idea about, they mailed it to me!
There is a box its asking me to fill out that says regular income intrest...do I put the interest that was on the letter from the bank or the amount I received or how much the bond was all together
You use the bank name that paid you the interest--i.e., where you redeemed and cashed it. I presume that's the bank that sent you the letter. The only other box you need to enter on the 1099-INT screen in regards to savings bond interest is Box 3 for "savings bond interest.". I provided screen images in my answer above that show how to report savings bond interest. Be sure you don't put the savings bond interest amount in more than one box, or you'll pay taxes on it twice.
You wrote: "There is a box its asking me to fill out that says regular income interest".
A box on what screen? Are you referring to the message you mentioned above: ""schedule B: Box 1 regular interest- enter the amount enter amount from 1099int form. Box 1, 3 or 8 for untitled"
Where and when do you see that message? Is that something from error check?
If you are getting an error message about needing to make an entry on Schedule B, then it might be easier to just delete the 1099-INT and start it over from scratch. Perhaps that will reset something. Or perhaps you have started 2 Forms 1099-INT by mistake. You can look in the forms list to see if more than one is showing up.
Here's how to get to the forms list and how to delete the 1099-INT so you can start that part over from scratch.
With your return open, click in the left menu column on TAX TOOLS, then TOOLS.
In the Tools window, choose "Delete a Form."
In the forms list be careful to only delete the form that says "Schedule B--Form 1099-INT (your bank)"
But also look to see if there is another one there. It may say 1099-INT (untitled.)
If there is a second 1099-INT that was started by mistake, delete that one, too.
Then enter the 1099-INT again using the steps in my original answer above.