Thank you for your reply.
Trying to be perfectly clear. I am using TurboTax Business for Windows (downloaded). Not TT Home & Business. Your instructions must be from Home & Business. I am working on 1041 TRUST returns. All of the interest income is from tax exempt bonds. PLEASE open the TT Business for Windows software before responding.
1. Go to Income. Click on 1099-INT. Click on Add Interest Income so you can see the screen "Enter Your Interest Income. " There is NO Box 13 for bond premium on tax exempt bond (covered transaction.
2. There is no separate category for 1099-OID anywhere in TT Business. My 1099-OID requires Box 6 to enter Acquisition Premium; and box 11 to enter Tax Exempt OID
3. There is no capability anywhere to enter Accrued Interest Paid or Acquisition Premium (covered transaction)
IRS requires all of these to be reported.
