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R
Rose S
Level 3
July 17, 2025

US Obligation- Box 3 Int

  • July 17, 2025
  • 1 reply
  • 10 views

I have a f1099-Int with $5100 on Box 1 and 1250 in box 3- US obligation. Is it correct to assume that the 1250 is included in f1099-Int box 1 $5100? Pro connect is adding the 1250 to $5100 on the Sch B. I am not sure if this is correct or if it is overstating the interest income. 

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    July 17, 2025

    The US Obligation interest is not included in the $5,100.

    The more I know the more I don’t know.
      R
      Rose SAuthor
      Level 3
      July 17, 2025

      Thank you. I am confused if Pro Connect is correct in adding that US Obligation amount to box 1 and increasing the taxable interest. My understanding was that US obligation box 3 was to show that out of box 1 the US obligation portion is non tax able to state. Would you have any insights on how best to record this?

      BobKamman
      BobKamman
      Level 15
      July 17, 2025

      Your understanding is wrong.  Take a look at the instructions that came with the Form 1099-INT.

      Box 3. Shows interest on U.S. Savings Bonds, Treasury bills, Treasury bonds,
      and Treasury notes. This may or may not all be taxable. See Pub. 550. This
      interest is exempt from state and local income taxes. This interest is not
      included in box 1.

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