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Question

Is interest on US treasuries tax exempt

Forum|Forum|6 years ago
June 5, 2019
2 replies
0 views

Is interest on US treasuries tax exempt? It is listed in box 3 of my 1099B

TurboTax Premier Windows

i did not get 1099B because savingd bod are not redeemed yet

HI. According to the IRS: Interest income from Treasury bills, notes, and bonds is subject to federal income tax but is exempt from all state and local income taxes. You should receive Form 1099-INT showing the interest (in box 3) paid to you for the year.

See this IRS article for more information

https://www.irs.gov/publications/p17/ch07.html#en_US_2016_publink1000171511

The 1099-INT forms that I received from Treasury Direct does not have Boxes, it just shows Reportable Proceeds: $2,394.00. How do I enter this into the Premier program so that it does not get transferred as Taxable income on my Hawaii Tax return?

How do I exempt interest income earned from treasuries on my MD income tax return?