Why does TT interest and dividend section on state return show different amounts for total interest and total state bank interest?

[jeflin01]

Does it matter if TT shows total state bank interest different amount than total bank interest?

[Mike9241]

Every state has different rules so we need to know the state.

[SteamTrain · Accepted solution]

Yep....depends on the state.

1)  A very Few states will not include bank interest from certain in-state banks and/or Credit Unions.

And, if you cashed in any savings bonds at a bank, any $$ in box 3 of a 1099-INT form...those $$ are not included in state bank interest, because the $$ came from the US Govt.

2)  If $$ are higher for state...then you might need to check your entries on all your 1099-INT forms...either Bank. Credit Union or Brokerage/Mutual fund forms.