I have a 1099 INT from Vanguard. Box 1 Interest Income $500. Then on the form under the following section "amounts not reported to the IRS", I have a line Bond Premium - Non Treasury obligations (noncovered lots) with an amount of $13.30
Do I do anything with that amount. I reported the Interest Income for $500 just not sure if I do anything with $13.30.
Also Boxes 2 - 14 on the 1099 INT are all zeros.
Thank you
You will report that Bond Premium amount in Box 11 of the 1099 INT. To get to Box 11, you will put a check mark where it mentions My Form has information than Box 1.
Do not record zeros in Boxes 2-14 as this may cause a filing error. just record $13.30 in Box 11.
The box 11 Bond premium (covered lots) on the form does not have an amount listed there.
The amount of $13.30 is listed in an area under heading "not reported to the IRS" on the line Bond premium - Non Treasury obligations (noncovered lots).
Do you I still enter that amount on line 11 for $13.30 even though that line does not have a amount listed there?
What do you if its a negative number on the 1099 for:
| -1.76 Total Bd premium noncovered lots |
Thanks for the help.