I purchased a treasury bond last year. My bank sent me an 1099-INT, on which bond premium is filled in box 12(Bond premium on Treasury obligation). I know I need to do amortized bond premium adjustments, but I also need to report the accrued interest I paid when I purchased the bond.
Questions is how I report both accrued interest paid and amortized bond premium adjustments pertaining to a single 1099-INT form? When I select 'the Interest item requires an adjustment' on 1099-INT,it doesn't allow me to select both (1)Bought/Sold bond between interest payments and (2) The premium on this bond can be amortized. It only allows me to select one of the two.
