Irene2805
Expert Alumni

Get your taxes done using TurboTax

Please enter the figures from your OID as follows:

 

OID Box 6-Acquisition premium.  Report in Box 1 of the 1099-INT.  This amount should be reported on the federal return as interest income but it is considered exempt from taxation for state and local income tax purposes.

 

 

OID Box 11-Tax exempt OID  - Report in Box 8 of the 1099-INT entry screen It will flow to line 2a of your 1040, Tax-exempt interest.

 

After the 1099-INT entry screen, you will see Tell us if any of these uncommon situations apply.  Mark the box Our state doesn't tax all of this interest and select the state from the drop-down list.  If your state is not on the list, you can select it on the next screen, Which state is your $XX of exempt interest from?

 

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