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Information for Form 8888 is entered under the '' File '' menu on the left-hand menu. Go through the steps and enter your Direct Deposit information when prompted. You will be given the option to have your refund deposited into more than one account or to purchase US savings bonds after you select the 'direct deposit' option.
New Member. Form 8888, Allocation of Refund (Including Savings Bond Purchases) is automatically generated by TurboTax when you choose to receive your refund all or in part with Savings bonds. The program will file this automatically along with your tax return, so you do not have to mail in this form. From the TurboTax FAQ: We'll give you the ...
I did not include Form 8888 Allocation of Refund when I did my Vermont Taxes via Turbotax in March. Is this why I have not received a refund? How do I send the Form 8888 to the IRS for a refund. Why to the IRS, when it is a Vermont Refund. Been trying to figure this all out for 2 hours.. HELP please. Diana
Upon further investigation, I discovered the answer in the IRS Form 8888 Instructions.: "You may request up to three different savings bond registrations. However, each registration must be a multiple of $50, and the total of lines 4, 5a, and 6a can’t be more than $5,000 (or your refund amount, whichever is smaller)."
You won't need to add the form separately, it is already part of the filing experience! When you are ready to file and have run the final review on your return: Click the File tab. On the screen, How do you want your $ federal refund, select Direct Deposit to a bank account. Go to the bottom of the screen and mark the box I would like to split ...
I have prepared our 2021 tax return requesting a $5,000 I Bond purchase on Form 8888 and have applied the balance of the overpayment to our 2022 estimated taxes. Before I can E-file our return, TurboTax asks "How do you want your $5000 federal refund?" and gives options for direct deposit or sending...
Level 2. Hi Dawn, I filled out form 8888 to refund $5000 in paper i-bond and have the refund balance applied to 2022 taxes. However, during eFile step I get the screen below, to deposit my $5000 refund to "Direct Deposit" account but no option to apply the $5000 in paper i-bond. I don't want to proceed with a direct deposit to my bank account.
Find Form 8888 on the list of forms. Click Delete to the right. Confirm your Delete. Click Continue with my return. If you are using the Desktop version (from a disc or download): Click Forms toward the upper right corner. Find Form 8888 on the list on the left. Highlight it, then click Delete in the lower left corner of the reading pane.
Form 8888 won't let me issue two $5000 I-Bonds for my joint refund. According to Treasury Direct, I should be able to get a $5000 refund for both people in a joint return for a total of $10,000. But TurboTax's Form 8888 won't allow more than $5000. posted. May 21, 2022 10:26 PM.
Therefore the I Bond Purchase was disallowed. Today I got a check for $5,183. Now get this THE REASON THE REFUND OF $5,000 DID NOT MATCH FORM 8888 WAS BECAUSE THE IRS ADDED INTEREST DUE TO THEIR DELAYING PROCESSING MY ACCOUNT. Instead of adding the interest of $183 to the rollover amount, they added it the refund amount.