No… if anything, you'll reduce the amount of Box 1 you'll report, perhaps to zero.
According to Adjustment for acquisition premium in IRS Publication 1212 (01/2022), Guide to Original Issue Discount (OID) Instruments:
If your debt instrument has acquisition premium, reduce the OID you report. Your adjustment is the difference between the OID shown on your Form 1099-OID and the reduced OID amount figured using the rules explained later under Figuring OID on Long-Term Debt Instruments.
Then, if you'll scroll down to Reduction for acquisition premium in the Figuring OID… link above, you'll see the formula to be applied.
If you have an adjustment amount to make, when you're entering this 1099-OID in TurboTax Online you'll come to the Tell us if any of these uncommon situations apply screen. There, select the box next to I need to adjust these amounts, then select Continue, and you'll be able to adjust your amount.
