4 week T-Bills taxes
I have been buying 4 week T-Bills in 2023. I know I have to pay Federal tax on the interest.
I had both Federal and State taxes done last Friday, the tax man said 4-week T-Bill interest is not taxed by the State of Illinois. Is that true? Thank you
Terry Says
Your TreasuryDirect account will have a message with your 1099 interest form. Only securities that matured in 2023 will be included.
And, yes, one of the great advantages of T-bill interest is that it is exempt from State income taxes!
