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March 31, 2025
Question

How do I find out the amount of US bond income that TT exempted from my federal return?

  • March 31, 2025
  • 1 reply
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TT "Learn More" screen says: "When does exempt US bond income apply? If you had income from interest or dividends on US obligations (bonds) or securities that is exempt from federal taxes, you'll need to add that income, minus expenses, to your Virginia state return." So, presumably TT in my fed return exempted US bond income that was reported on the 1099 form that it asked me to upload. What is that number? How do I find it? (Why doesn't TT provide a link in the state return questionnaire to the federal return it has just prepared?)

    1 reply

    SusanY1
    April 6, 2025

    If you have entered this as interest on federal obligations, TurboTax will automatically subtract it for you on your state return.  If you are filing in multiple states, you will likely need to tell TurboTax to which state the income belongs.

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