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March 3, 2025
Question

Turbo tax not subtracting out US Treasury Interest on New York State forms

  • March 3, 2025
  • 1 reply
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New York State, IT-201 LIne 2, Taxable Income, not subtracting out US treasury income from Federal.  Where do I enter the tax except interest so it doesn't tax me?  Thanks

1 reply

LenaH
March 10, 2025

The interest income on U.S. government bonds is subtracted on Line 28 of your IT-201. Although it may look like it is being included in your taxable income, it is also being deducted on the later part of the form. 

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April 13, 2025

my line 28 was prepopulated. do you know where/how turbotax prepopulated the line? where did it get that info from? tx

AmyC
April 15, 2025

When you entered your 1099- INT, you told the program you had US interest in box 3. You may have also selected to adjust the amounts for other boxes while in the federal section.

@drctypea 

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