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GPD84
New Member

1099-OID issue

On my 1099-OID the amount in Box 2 is $0.00, the amount in box 10 is $273.90. During verification TurboTax flags an error on Schedule B, stating the amount in box 10 must be reduced to not exceed the amount in box 2 and any excess should be reported on Schedule A.  Shouldn't TT be making the adjustment and appropriate entry on schedule A, or could this be an error on my 1099-OID?

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1 Reply

1099-OID issue

GPD84,

I'm guessing you are talking about a TreasuryDirect 1099-OID form, but in any case read through

 

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/reporting-interest-fr...

 

for a choice of three possible ways to avoid throwing away the Box 12 bond premium via a worthless Schedule A entry.

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