I think there is a problem with TT. I have a 1099-OID from some tax exempt bonds with APB on line 10. I see that the interest on these bonds are included in 1099-INT with interest from other tax exempt bonds that are not OID. TT is not taking into account the APB on 1099-OID resulting extra state tax on the interest equal to APB amount on 1099-OID. It looks like I have to add the APB on 1099-OID to the APB on 1099-INT in order to reduce the tax exempt interest to end up with the correct tax amount for my state. Any comments?
posted
February 15, 2020
10:38 AM
last updated
February 15, 2020
11:28 AM