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Bond premium deductions

where are bond premiums deducted
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2 Replies

Bond premium deductions

you mean bond premium amortization because the full amount must be amortized over the term of the bond. if held by a broker they will provide you with this info. 

 

 

on 1099-int

line 11 for taxable other than US treasury

line 12 US treasury

line13 municipal

enter as positive number Turbotax will subtract. also, note that the bond premium amortization can not exceed the bond interest income

Bond premium deductions

Thank you for your reply.  Yes, these show up on the lines you mention above on my 1099-INT which I imported (Fidelity).  However, because I am using an ipad online (also tried with a Mac desktop) I can't see the actual 'forms' view.  Fidelity did not know (on phone for 55 minutes) that the online version doesn't show 'form view' - had to read this myself. Thank Gosh for this forum.

I can see the 'Tax Summary' page and there is a 'total credits' of $557. I have line 11 of $438.54 and line 13 of $1,523.49.  Don't have a way of verifying how much of this is from the bond premiums unless I do the calculations myself.

Does anyone know how to see 'form view' using a mac or ipad?  Thanks you again

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