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Get your taxes done using TurboTax
I am assuming you are asking how to enter Form 1099INT Box 8.
You can report the information from the 1099-OID on the 1041 return using these steps:
- Click on Federal Taxes > Income
- In the Interest and Dividends section, click on the Start/Update box next to Interest Income on 1099-INT.
- On this screen, report the following items from the 1099-OID:
- Box 1 (OID) and Box 2 (Other Periodic interest) -- add together and enter in Box 1 of 1099-INT.
- Box 3 US Treasury Interest.
- Box 4 (Fed tax withheld) -- Box 4 of 1099-INT
- Box 5 (Investment Expense)
- Box 6 Foreign Tax Paid
- Box 8 Tax Exempt Interest
- Box 9 - Specified Private Activity Bond
- Box 10 Market Discount
- Then Check the box in the screenshot below to get to the page to enter the Bond Premium amount in Box 11.
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March 27, 2023
12:23 PM