How to enter tax exempt OID and Acquisition premium

[cover97]

I received a 1099-OID with tax exempt OID in box 11.  The issuer also showed the amount of  OID not reported to the IRS.   There is also an amount in acquisition premium box 6.   My understanding is that I am responsible for the OID even if it is not reported to the IRS so I tried to handle this with a negative adjustment  to OID interest (which is supposed to increase it).  The problem is that on the 1099-OID worksheet both my acquisition premium and adjustment amount entries are flagged as red.  How does TT want me to enter this data?  Is the problem that the unadjusted OID amount is less than the acquisition premium, i.e., should I make the adjustment to OID by entering the sum of reported and non-reported OID in the box 11 field instead of using the adjustment field?

[baldietax]

what's the situation or type of bonds causing you to have OID not reported to the IRS?

some brokers like Schwab may provide supplemental details "not reported to the IRS" including breakdown on OID for AMT purposes but it's usually included in the 1099s other than accrued interest.

if it's really some OID not included in Box 11 for some reason you could just enter the 1099 as-is and enter a separate 1099-OID for it

[cover97]

the situation is with tax-exempt bonds

Here is the note on the brokers form 1099-OID that explains the cause:

current regulations do not require that all tax-exempt OID be reported to the Internal Revenue Service (IRS). Only tax-exempt OID from covered securities acquired on or after January 1, 2017 must be reported.

It seems like the adjustment to OID doesn't adjust the entry on the TT OID box 11 the way I thought it would.  I solved the problem by not using the OID adjustment field and made the adjustment before entering the amounts into TT OID form box 6 and box11.