I would be concerned there's a reason this isn't reported on the 1099-OID tho, have you spoken to anyone at Wells about it? Is there something in particular about the bonds involved - see notes below about acquisitions before Jan 1, 2017 if that applies.
My experience from Schwab is they provide a 1099-OID with details that match the totals. Then later in the "information not provided to the IRS" sections at the back of the composite they have a section for "amortization and accretion" with cost basis adjustments, YTD/LTD premium and market discount, which is a single schedule combining the 1099-OID Box 6, and also premium for bonds reported on 1099-INT Box 13. Then they have another schedule of OID but that ties to what they already provided on the 1099-OID breakdown. It's always seemed a bit repetitive and confusing the way they present it. Anyway just wanted to share that as an example, to make sure that these extra details "not reported to the IRS" are not already part of what is on your 1099-OID and 1099-INT.
I do see a comment on my Schwab statement about "securities acquired after January 1, 2017" so maybe 1099-OID reporting changed (TCJA?) and some of your positions pre-dated that (mine are all after 2017). Here's what the 1099-OID notes say
- Box 6. If there is an amount in both boxes 6 and 11, for a tax-exempt obligation that is a covered security acquired on or after January 1, 2017, and is issued with OID, the amount in box 6 shows the amount of acquisition premium amortization for the year that reduces the amount of your tax-exempt OID for the year. The payer may, but is not required to, report the acquisition premium for a tax-exempt obligation that is a covered security acquired before January 1, 2017, and issued with OID
Box 11. For a tax-exempt obligation that is a covered security acquired on or after January 1, 2017, shows the tax-exempt OID on the obligation for the part of the year you owned it. The payer may, but is not required to, report the OID for a tax-exempt obligation that is a covered security acquired before January 1, 2017. In general, report the amount of tax-exempt OID on Form 1040 or 1040-SR
Back in TT, if they do need to be reported for whatever reason, can you input the 1099-OID provided as-is, then put in another 1099-OID with 1950 in Box 6 and 4800 in Box 11?
Not sure any impact of using 1099-INT instead i.e. 1950 in Box 13 and 4800 in Box 8, it should get to the same place.
Also are you aware of the limitations in TT making adjustments to 1099s e.g. if you input accrued interest adjustment on a 1099-INT which has multiple income types (Box 1/3/8), TT doesn't know which box to apply it to and will pro-rata it; if you have this situation you need to split up the 1099-INT.
Not a CPA/Expert so just my 2 cents, hope this helps.
