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Investing - Theory, News & General • Taxation of Treasury bills, notes and bonds


So there are no other lines in the TT state income tax worksheets where you can enter additional subtractions? Some else mentioned that this was the case for their state.
I do appreciate the suggestion.

Yes, that would be logical. There is a field accessible in TT's forms view for any additional subtractions. That was actually my initial plan. But that field (Michigan, Schedule 1, Miscellaneous Subtractions, can only be entered with an field override as well). Back to the potential (still trying to verify) e-file issue. So at this point, yes I can either override that field, or I can just override (Michigan Schedule 1, Line 10) the Income From US Gov't Obligations field. Override either way. I don't doubt that TurboTax allows this for some states - just not mine (and according to another poster elsewhere - California). This sounds weird, but TurboTax does not seem designed to handle this for my state. I've got postings on their community too, as this is not a unique problem given how many people buy bonds.

We won't mention that I could have skipped TurboTax and prepared my state return manually in the day I've spend on this. Ouch. Image may be NSFW.
Clik here to view.
:sharebeer

Statistics: Posted by DetroitRick — Sun Feb 18, 2024 2:21 pm — Replies 806 — Views 119685



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