Savings Bond Interest -- I Bonds

Forum|Forum|3 years ago
February 12, 2023
2 replies
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Good Morning,

Savings Bond Interest does not show up as US Treasury interest on the federal section of Turbo Tax for 2022. There appears to be no option for this and just an empty column. Or I just haven't been able to find it. Shouldn't that be an option so that I am not taxed at the state level on the interest when I start the state tax return next?

Thank you.

Hal_Al

Employee

At the 1099-INT screen, check the box "my form has info in more than just box 1 (this is not common)". That will get you box 3 to enter savings bond interest.

ab367gmailcomAuthor

Thanks for the reply but was already aware of the checking the box option. We figured the issue out.

Mike9241

with I bonds you have an option. 1) you don't report interest until the bond matures in 30 years or you cash it in. that's when you get 1099-INT

or 2) you report the annual accretion which you must get from the Treasury website since no 1099 is issued. you can not change back an forth between the two methods,