I have a consolidated 1099 from an investment house, with data for 1099-DIV and 1099-INT on page 1 and 1099-B on following pages. I entered the information for 1099-DIV and 1099-INT into Turbotax as usual. Form 1099-B includes an entry for 'accrued market discount' (column 1f) because my investment advisor sold some Treasury bonds. There were numerous purchases and sales over the year, so I used to summary approach to entering the information for long term covered investments. I entered total purchase and sales amount, clicked the box labeled 'I need to adjust my total cost basis', selected D and entered the amount listed under 'accrued market discount' on the 1099-B. The result was that Turbotax double counted the interest in lines 1 and 3 on 1099-INT. The worksheet for Schedule B had an entry for the interest in boxes 1 and 3 of 1099-INT and a separate entry for the interest on line 3. In other words, the interest on the US Treasuries was being counted twice. I verified that the total interest reported on 1040 included the double entry. Why is this happening and how to I fix it?
