Interest On U.S. Savings 1099

Forum|Forum|1 year ago
February 17, 2025
1 reply
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Turbotax has box 1 for interest but my 1099 for Treasury Direct shows all interest in Box 3, but when I enter that amount in Turbotax, it returns 0. Does this amount belong in Box 1 of TurboTax

AmyC

Employee

No, you must enter it in box 3. Do you see form 8815 in your return? You may qualify to have the interest excluded.

Form 8815

If you cashed series EE or I U.S. savings bonds this year that were issued after 1989, you may be able to exclude from your income part or all of the interest on those bonds. Use Form 8815 to figure the amount of any interest you may exclude.

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Dsf4manAuthor

The only form I have from Department of the Treasury, Bureau of the Fiscal Service,TreasuryDirect®Form 1099 2024. Are suggesting at I enter the amount in Box 3 and not Box 1 and it will generate in data on a Tax Sheet within Turbo Tax on form 8815 automatically?