Yes, if the amortized portion is reported on line 12 and if you interest is being reported at full value, you may enter a ADP adjustment to offset the income. Before you do however, make the amount listed on line 1 is not net income (taking in account that the income is already offset by the bond amortization). Here is how to enter the adjustment.
- Click on Federal
- Click on Wages and Income
- Click on I'll choose what I work on (if shown)
- Scroll down to Less Common Income
- Scroll down to Miscellaneous income>other reportable income
- In the description Box, enter ADP Adjustment>then -XXX.XX. Besure to enter a minus sign in front of the amount.
@roses1257
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
