basis muni bonds

[lslagle]

I owned muni bonds in my Fidelity account, which matured in 2019.  I payed a premium on purchase.  My Fidelity 1099 was imported, and the gain/loss now shows as zero in Turbotax.  Is this basis correct or should I calculate a premium based on the original purchase price?  Can I rely on Fidelity to have transferred the correct basis?

[SteamTrain]

Usually that is correct, especially for Muni-Bonds.

For Muni's any premium paid is required to be amortized yearly until the basis=face value  (usually, amortized to the first call date).  Thus the basis is only different if you sell the bonds before their call date.

Depending on when you bought them, the yearly amortized amount of the premium paid was indicated in box 13 of the 1099-INT and reduced the reported box 8 amount each year of amortization  ( years back it was in a different box, or even in a special spot, since box 13 didn't exist until 2015)

[KathrynG3]

Yes, you can rely on Fidelity. 

There is not a deduction for the premium paid on the muni bonds because that part was amortized each year reducing your basis when Form 1099-INT was reported.