Dear ReneeM7122,
Thanks for the info on this thread and to other respondents.
We entered bond premium amounts from 1099 which, as we expected and you point out, did reduce the non-California tax-exempt interest which went into our California income tax calculation.
What we can't puzzle out is that this reduction was not dollar for dollar. There was a small but significant difference between the amount of bond premium that got subtracted and the amount we entered into Turbotax from Box 13 of 1099. In your reply you say "this adjustment happens automatically when you enter the amount from Box 13 and Box 11 in the 1099-INT section of TurboTax."
Is there a place we can see the math behind this adjustment?
Thanks, redrock2
