If you redeemed a U.S. Savings Bond this year and reported interest for this bond on previous tax returns, you will need to report the amount in the program that you previously reported.  The amount reported as income on prior year return(s) will then be subtracted from Schedule B (Form 1040) before transferring to the federal form.  If you need help accessing Form 1099-INT in the TaxAct program, go to our Form 1099-INT - Entering in Program FAQ

1. From within your Form 1099-INT, continue with the interview process until you reach the screen titled Interest Income - 1099-INT Income.
2. Click the data entry field below 3. Interest on U.S. Savings Bonds and Treasury obligations, and type the amount.
3. On the screen titled Interest Income - Interest Deductions, click the data entry field below U.S. Government interest included as income on prior year return(s), and type the amount.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.