The problem that I have with leaving Box 14 blank or entering Various is that TurboTax reports my tax-exempt interest income as $1833.33. I didn't actually receive that amount as I had to pay $1485.84 in accrued interest when I purchased the bonds.
I just went through the entry process again and noticed that the adjustments only apply to taxable interest. This seems odd as tax-exempt interest impacts the calculation of how much of your Social Security income is taxable income.
I raised my question because I was attempting to reduce my tax-exempt interest by entering an adjustment for the accrued interest that I had paid when I acquired the bonds. Not allowing adjustments to tax-exempt interest strikes me as an error in TurboTax' logic.
