VolvoGirl - The TurboTax instructions are misleading. I entered the bond premium in the 1099-INT screen. After I hit continue, another screen is presented that asks "Do any of these uncommon situations exist?" When you click "learn more", the instructions say "Here are some common reasons why an interest amount may need an adjustment". One of the items listed is:
Amortization of a Bond Premium: If you pay more for a bond than its face value, the excess is called a premium. You may be able to subtract part of this premium from your interest each year.
So BOTTOM LINE - the above indicates that the tax payer should specify the bond premium here again. Hence the doubling of the bond premium on Schedule B. This is the answer - not input of the 1099-INT twice or manually importing it. Turbo tax needs to modify the language in this popup to save others from the same confusion. Thanks.
