savings bond interest

Forum|Forum|2 years ago
February 13, 2024
1 reply
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How do i exclude the I-bond interest earned in 2023 from my RI income on the state return.

TurboTax Home & Biz Windows

JohnW152

To exclude the interest on your state return, you have to enter it in a specific way in the federal income portion of TurboTax. In TurboTax Online:

Select Tax Home in the left pane
On the Hi, let's keep working on your taxes! screen, select the dropdown to the right of Income & Expenses
Select Start, Pick up where you left off, or Work on other income, as appropriate
Scroll down and select the dropdown to the right of Investments & Savings 1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
Select Start or Revisit to the right of Interest on 1099-INT
Select the dropdown to the right of your savings bond interest
Select Edit
Make sure you enter your savings bond interest in Box 3 - Interest on U.S. Savings Bonds and Treas. Obligations, then select Continue
Continue through the following screens, answering appropriately

mikeswalkerAuthor

Thanks. The 1099 I downloaded only had one box, so this was helpful. Also, my state was not listed in the dropdown in subsequesnt questions so I left it blank so the adjustment applied.