Does IRS allow premium amortization on preferred stock (not a bond)

[tadlow]

rules very clear for bond premium amortization, and the major brokerages report it properly. I cannot find a reference anywhere to amortization of premium on a preferred? seems even if IRS allows, would have to do manually b/c appears holders do not amortize.

[Anonymous]

general rules. All income is taxable unless specifically excluded by law. Nothing is deductible unless specifically specified by law.  There is nothing in the law to allow amortization of preferred stock premium