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Since the Bond Premium in Box 10 is greater than the interest in Box 2 (Form 1099-OID), then you should leave Box 10 blank and keep your form with your tax files for future use.  When the bond is redeemed, for tax purposes will be a sale, you will adjust your cost basis of the bond if necessary before reporting the sale on your tax return.

You can continue with the 1099-INT entry if you wish.  I tested the entry using the actual 1099-OID entry without errors by leaving out the Bond Premium from tax exempt obligations.  You can use the link below if you want to change your entry.

• Where do I report my Form 1099-OID?
• 26 CFR § 1.171-2 - Amortization of bond premium (see (4) Bond premium in excess of qualified stated interest)

The amount may be a deduction on Schedule A if you itemize your deductions. Miscellaneous Deductions not subject to 2% AGI.

1. Select Deductions & Credits > Scroll to Other Deductions and Credits > Select Show More > Select Other Deductible Expenses
2. Start or Revisit > Click No > Click No > Click Yes to the screen 'Did you have any of these other expenses?'
3. Enter your Bond Premium in excess of the OID interest income
4. See the image below.

@gdowstock