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March 15, 2024
Question

Should I add savings bond redemption 1099-INT to wages & income?

  • March 15, 2024
  • 2 replies
  • 0 views
Should I add savings bond redemption 1099-INT to wages & income?

2 replies

DoninGA
Employee
March 15, 2024

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

VolvoGirl
Employee
March 15, 2024

Yes you need to enter the interest.  Savings Bond interest goes in box 3, not box 1.  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.