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March 27, 2025
Question

Is state tax withheld supposed to have an amount for my high yield savings?

  • March 27, 2025
  • 2 replies
  • 0 views
I am filing in California and my HYS 1099-INT does not show a state tax withheld amount in box 17. How do I move forward from this?

2 replies

March 27, 2025

No.  You'll just leave the state section blank, and tax will be completed on your CA return. Boxes 15-17 should all be left blank when no state tax is withheld.

 

 

VolvoGirl
Employee
March 27, 2025

Did you have any federal withholding taken out?  It would be unusual to have tax withholding on a bank or savings account unless you are subject to backup withholding.  

March 27, 2025

No, it hadn’t said anything had been withheld but it kept pushing to have an amount withheld for state taxes because it’s California? The information was already put in for me I had just transferred it from my bank