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U
ualms
March 26, 2025
Question

I bought a Treasury Bill and am wondering where I put it for my Federal Tax return? I know it is not taxed by CA

  • March 26, 2025
  • 1 reply
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1 reply

M
MinhT1
March 26, 2025

Buying a Treasury bill is not a tax event. You do not report the purchase.

 

Interest on a Treasury bill is subject to federal income tax but not state or local taxes. 

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U
ualmsAuthor
March 26, 2025

Yes, I understand that, but where do I enter the interest earned on the Treasury Bond, (I put it under the other 1099’s and see it was not deducted from that total for the state?

SteamTrain
SteamTrain
Employee
March 26, 2025

@ualms 

It goes into box 3 of a 1099-INT form.

Create one manually if you have to...as-if the $$ came from the US Treasury (well...they did)

 

Being in box 3, the $$ are automatically handled by the software to be excluded from state taxation

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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