Bond Premium value incorrect

Forum|Forum|5 years ago
March 1, 2021
1 reply
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The bond premium adjustment reported on my 1099-INT is greater than the related Box 1 interest income. Where do i put the difference and why is it not put there automatically by TurboTax?

M

mglauner

Per @CarolC:

"Follow these steps to make a manual adjustment for the bond premium you paid on your tax-exempt and taxable bonds:

Select Federal Taxes
Under Wages & Income select Interest on 1099-INT
Enter your 1099-INT information, select Continue
Select I need to adjust the taxable amount, select Continue
Enter the state that pays your tax-exempt interest, select Continue
Enter the amount of your premium adjustment (use a negative number if you need to add to the interest reported)
Select the Reason for Adjustment"