Token # 1203188
Two issues:
1. I entered the purchased accrued interest paid on various bond purchases into my 1099-INT worksheet for Stifel. However, in order for the correct amount of purchased interest to transfer to Schedule B ($889.14) I had to enter $1,279.67 in the accrued interest field on the 1099-INT worksheet. Why is the amount entered in the worksheet not being correctly transferred, and what is causing this reduction in the accrued interest paid in the transfer process?
2. I received a 1099-MISC from Stifel for "contract fee" income related to quarterly payments made on index linked securities. It's something like a quarterly interest payment except that the payment is contingent on certain stock index behaviors with which the security is linked. If the conditions are met, the payment is made; if not, the payment is skipped. For some reason Turbo Tax wants to treat these payments as business income rather than investment income and forces the user into a Schedule B situation. I had a difficult time breaking the link to Schedule B. Perhaps TurboTax needs to add a category for Index Linked Securities Contract Fees (or Payments). Your thoughts?
Thank you.
