123451
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I was told "You had ABP interest adjustment (Schedule B)." Where is this found ?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
ToddL
New Member

I was told "You had ABP interest adjustment (Schedule B)." Where is this found ?

4 Replies
ToddL
New Member

I was told "You had ABP interest adjustment (Schedule B)." Where is this found ?

I was told "You had ABP interest adjustment (Schedule B)." Where is this found ?

This does not answer the question.  Where is the calculation for this value found?

VictoriaD75
Expert Alumni

I was told "You had ABP interest adjustment (Schedule B)." Where is this found ?

A premium is an amount paid above par for a bond. The amortization of the premium will depend on the term of the bond and the method used, such as straight-line or the effective interest method. You would need the information from the bond indenture to determine the amortization amount. For tax purposes, it will be reported on the 1099-INT. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I was told "You had ABP interest adjustment (Schedule B)." Where is this found ?

TurboTax program should explain the specific calculations used each value in my return, and it should link back to the sources of the values used in the calculation.   I shouldn't have to do an internet research project and guess how the calculations are done.  This is one such case, but there are many others.  Please work on improving the transparency of the calculations.  That will save users a lot of time checking.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question