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Get your taxes done using TurboTax
"ABP" is an amortized bond premium. This means you purchased a bond at a certain price above par. For example, you paid $1870 for an $1800 bond.
If you had a positive entry (>$0) on Line 11 of your 1099-INT, you would have an ABP interest adjustment.
To manually post a 1099-INT
- Select Federal
- Wages & Income
- Scroll to Investments & Savings and
- select Show More,
- Start or Revisit next to Interest on 1099-INT - Okay!
- Time to kick off your investments!
- Yes, on the screen Did you receive any interest income? then Continue.
- If you see the screen Your investments & savings or Here's your 1099-INT info, select.
- Add investments or add another 1099-INT, then Continue.
- Choose how you'd like to enter your 1099-DIV:
- If you'd rather manually enter your form, select.
- Change how I enter my form, select.
- 1099-INT, then
- Type it in myself on the following screen.
- If you'd rather manually enter your form, select.
- Follow the on-screen instructions to enter the info from your 1099-INT.
- When you reach the screen Here's your 1099-DIV info, the form you just entered should be listed.
Check the box My form has info in other boxes.
Post the information to Box 11 and [Continue]
The screen will show Do any of these uncommon situations apply?
Select I need to adjust the interest reported on my form.
Then enter your adjustment and select the reason from the drop-down menu.
If this does not completely answer your question, please contact us again and provide some additional details.
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March 21, 2023
7:48 AM