topic 1099 Bond Premium on Tax Exempt Bonds in Get your taxes done using TurboTax

1099 Bond Premium on Tax Exempt Bonds

rcroane — Mon, 09 Mar 2026 04:46:47 GMT

I have a portfolio of tax exempt municipal bonds. I moved the portfolio to a new brokerage firm this year in September. Therefore, I received 1099's from both brokerage firms. Turbo Tax has flagged an error on the 1099's from the firm where I moved the portfolio in September. Specifically, the error is that the amount of tax exempt bond premium exceeds the amount of tax exempt interest. I believe this is simply due to the timing of interest payments during the year. When taken in total, the reporting from the two brokerage firms correctly shows the tax exempt interest and the tax exempt bond premium amounts. The net amount is properly reflected on the 1040, line 2a.

Can I just ignore the error being flagged? Thank you.

Re: 1099 Bond Premium on Tax Exempt Bonds

CarissaM — Wed, 02 Mar 2022 01:27:33 GMT

Please follow the instructions here to contact us by phone, so we can look into this further.

Re: 1099 Bond Premium on Tax Exempt Bonds

rcroane — Wed, 02 Mar 2022 02:24:43 GMT

I tried calling but it kept saying that they could not find my account. I need to know what to do.

Re: 1099 Bond Premium on Tax Exempt Bonds

CarissaM — Thu, 03 Mar 2022 23:12:15 GMT

In order to locate your account they would need the email address or phone number associated with your account.