Get your taxes done using TurboTax

In general, your tax-exempt stated interest should be shown in box 8 of Form 1099-INT or, for a tax-exempt OID bond, in box 2 of Form 1099-OID and your tax-exempt OID should be shown in box 11 of Form 1099-OID. Enter the total on line 2a. However, if you acquired a tax-exempt bond at a premium, only report the net amount of tax-exempt interest on line 2a (that is, the excess of the tax-exempt interest received during the year over the amortized bond premium for the year). Also, if you acquired a tax-exempt OID bond at an acquisition premium, only report the net amount of tax-exempt OID on line 2a (that is, the excess of tax-exempt OID for the year over the amortized acquisition premium for the year). 

You can delete Schedule B using these steps:

1. Select Tax Tools from the menu on the left.
2. Then select Tools.
3. When the new menu pops up select Delete a Form.
4. You will see a list of all the forms in your return.
5. Find the form that you want to delete.
6. Select the Form.
7. Click Delete on the right

Try to report the information from the 1099-OID  return using these steps:

1. Click on Federal Taxes > Income
2. In the Interest and Dividends section, click on the Start/Update box next to Interest Income on 1099-INT.
3. On this screen, report the following items from the 1099-OID:
4. Box 1 (OID) and Box 2 (Other Periodic interest) -- add together and enter in Box 1 of 1099-INT.
5. Box 3 (early withdrawal penalty) -- Box 2 of 1099-INT.
6. Box 4 (Fed tax withheld) -- Box 4 of 1099-INT
7. Box 5 (Market discount) - Box 10 of 1099-INT
8. Box 6 (Acquisition premium) - Include in Box 1 of 1099-INT
9. Box 8 (OID on U.S. Treasury obligations) - Box 12 of 1099-INT
10. Box 9 - Investment expense - Enter in the Deductions section of TurboTax:  Federal Taxes > Deductions > Interest expense >Investment interest expense
    Box 10 Bond premium - Box 11 of 1099-INT
11. Box 11 Tax-exempt OID - Box 13 of 1099-INT

See Pub. 550 for more information about OID, bond premium, and acquisition premium.

Publication 550

Review the link below for more information:

Form 1099-OID

@JohnWS