US Savings Bond Accrued Interest Already Reported

[Hank]

I've been reporting the accrued interest on my Series EE Savings Bonds yearly. In 2023 I redeemed them all and this year I got a 1099_INT for all the interest (even though it had been paid).



How do I tell the IRS that this interest has already been reported and taxes paid? Treasury Direct's website says you have to use IRS Pub 550 to find he instructions on how to tell the IRS you've reported this interest in the past. When I went through the booklet I couldn't find any instructions.


Does anyone know how to do this properly?


Hank

 

[RE2Boys]

IRS Pub 550, page 25:


U.S. savings bond interest previously reported. If you
received a Form 1099-INT for U.S. savings bond interest,
the form may show interest you do not have to report. See
Form 1099-INT for U.S. savings bond interest, earlier.
On Schedule B (Form 1040), Part I, line 1, report all the
interest shown on your Form 1099-INT. Then follow these
steps.
1. Several rows above line 2, enter a subtotal of all inter-
est listed on line 1.
2. Below the subtotal, enter “U.S. Savings Bond Interest
Previously Reported” and enter amounts previously
reported or interest accrued before you received the
bond.
3. Subtract these amounts from the subtotal and enter on line 2


It goes on to provide several examples.

 

[Hank]

Thank you so much. I read this more than once and still missed it. getting old and blind I guess.

 

[MichaelB]

Thank you so much. I read this more than once and still missed it. getting old and blind I guess.

Don’t be so hard on yourself. When I read those forms looking for specifics my eyes cross and I get headaches. It’s not you, it’s the instructions.

 

[Hank]

Don’t be so hard on yourself. When I read those forms looking for specifics my eyes cross and I get headaches. It’s not you, it’s the instructions.

Seems like this is a good application for AI. It would really help find the needle in the haystack. If I could just ask a bot for the difinitive answer without wading through instruction booklets that would be cool.