Where to report Treasury Bill income on Turbotax Premier desktop

Forum|Forum|3 years ago
February 20, 2023
1 reply
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Hi there,

I bought some Treasury Bill directly through TreasuryDirect. I need some help figuring out where to report it. I bought the desktop version of Turbotax Premier. The tax file I got from TreasuryDirect says it's 1099-INT. But I can't find any institution with a keyword treasury in the auto import list. Please point me to the right direction.

Best answer by HelenC12

TreasuryDirect is not a TurboTax Import Partner so you'll have to enter your interest income manually.

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

Sign in to your TurboTax account and open or continue your return
Select Federal from the menu, then Wages & Income
Locate the section titled Investments & Savings and select Show More, then select Start or Revisit next to Interest on 1099-INT
Select Yes on the screen Did you receive any investment income? then Continue
- If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue
On the next screen, select how you want to enter your Form 1099-INT:
- If you want to import your form, search for your brokerage or financial institution. Sign in to your online account and select Get my form
- If you want to upload a copy of your form or manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT
On the screen Do any of these uncommon situations apply? check the boxes according to your situation and Continue

HelenC12Answer

TreasuryDirect is not a TurboTax Import Partner so you'll have to enter your interest income manually.

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

Sign in to your TurboTax account and open or continue your return
Select Federal from the menu, then Wages & Income
Locate the section titled Investments & Savings and select Show More, then select Start or Revisit next to Interest on 1099-INT
Select Yes on the screen Did you receive any investment income? then Continue
- If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue
On the next screen, select how you want to enter your Form 1099-INT:
- If you want to import your form, search for your brokerage or financial institution. Sign in to your online account and select Get my form
- If you want to upload a copy of your form or manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT
On the screen Do any of these uncommon situations apply? check the boxes according to your situation and Continue

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mq2035

Treasury bills are exempt from state taxes, does the above method of reporting take that into account?

Thanks.

VolvoGirl

Employee

You need to enter the interest in Box 3 so it will be excluded from the state return.

To get to box 3. Under the Received from box, you need to check the little box on the left for
….My form has info in more than just box 1 (this is uncommon).