Thanks rjmswarren . I see it way you represent it. I'm going to buy an OID California GO muni at Fidelity and see how they do it for tax year 2022. If they get it right, I'll transfer my Schwab Munis to fidelity. This is not the first issue I've had with Schwab and Cal munis, really bonds in general. Schwab has never put their best foot forward for bonds. I find Fidelity and Vanguard to be better at documentation than Schwab.
I also agree that the irs doesn't care or won't flag this if you put the bond premium in the 1099-INT and leave it off the OID. However, I will create a second Schwab 1099-INT with only the added bond premium to keep it straight for me, and anyone at the IRS who ever looks. My experience has been if it's no increase in tax, and this is non-taxable munis, they won't bother correcting, i.e. late K-1 with losses. thanks again. Steve
