Get your taxes done using TurboTax

Yes, you should change box 12 to $6.62, the amount of your interest income, as that is the most you can deduct for bond premium amortization. The balance you can enter in the Deductions and Credits section, then Other Deductions and Credits, then Other Deductible Expenses. It will be included in with your itemized deductions, assuming you will benefit from that.