How to enter US federal tax withheld on interest income from a matured US Savings bond?

Skorcher
Skorcher Member ✭
in Investing (Windows)
Currently I am entering the maturity of my US savings bonds on two entries - one for the principal and the second for the amount of accrued interest income. I chose to have 25% of the interest income withheld for US federal income tax. Quicken has no option for entering this. I could call it Misc Expense, but that won't help me come tax time next year.

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    If you would like to use Quicken to track the withholding, I suggest you use category associated with the Schedule B:Fed Tax w/h, interest income tax line.

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    If you would like to use Quicken to track the withholding, I suggest you use category associated with the Schedule B:Fed Tax w/h, interest income tax line.

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