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Get your taxes done using TurboTax
Schwab has issued me a 1099-OID with a Bond Premium (Box 10) included. (I purchased a Tax-free Muni at above par).
TurboTax is complaining that the premium is greater than the interest in Box 2 (which is filled as zero). My reading of the 1099-OID instructions (and/or Schwab's explanation) is that, if that interest income is already declared in a 1099-INT (which, in my case, it is), then Box 2 SHOULD be zero. Should I simply ignore this TurboTax "error"?
‎February 17, 2020
5:12 PM