turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

FORM 1099-OID data entry problem

I received a few 1099-OID forms from my brokerage co.  It only has Box 6 and Box 11 filled out.  The other Box entries are empty.  When I enter this data into TT and run the TT Federal Review, I get this error: "The acquisition premium adjustment of 2005.66 reported on this Form 1099-OID is greater than the interest income reported in Box1, Box8 and Box 11 on this 1099-OID of 1618.01. You must reduce the acquisition premium amount reported on this 1099-OID to the amount of interest income, and report any excess on Schedule A(subject to any required limitations)."

 

The investment seems to be a local municipality bond.

 

What if any values should be entered into Box 1,8 or 11?  And where do I find that?  If I need to report this on my Schedule A, where do I report this?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
moodycr
New Member

FORM 1099-OID data entry problem

I don't understand the instructions when Box 10 is greater than Box 1

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies