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If you mean you paid a premium to purchase a bond that has already accrued interest before your purchase you can report the interest and enter the amortizable bond premium adjustment or ABP Adjustment (see below).

You have a choice.  First, you can choose to add this to the cost basis of the bond which would reduce gain on the redemption/sale in the future.  Or, if you choose to reduce the tax exempt interest by the premium paid for the bond, it must be amortized as described below.

Amortizable bond premium. 

If you elect to reduce your interest income on a taxable bond by the amount of taxable amortizable bond premium. But identify the amount to be subtracted as "ABP Adjustment.".  The premium is amortized over the life of the bond on a pro-rata basis.

However, if the payer reported to you a net amount of interest income on the bond reflecting the offset of the gross amount of interest income by the amortizable bond premium, no reduction of the amount of interest income reported to you by the payer is needed on Schedule B for the bond.

Follow these steps to make a manual adjustment for the bond premium you paid on your tax-exempt and taxable bonds:

1. Select Federal Taxes
2. Under Wages & Income select Interest on 1099-INT
3. Enter your 1099-INT information, select Continue
4. Select I need to adjust the taxable amount, select Continue
5. Enter the state that pays your tax-exempt interest, select Continue
6. Enter the amount of your premium adjustment (use a negative number if you need to add to the interest reported)
7. Select the Reason for Adjustment - ABP Adjustment
8. See the image below