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sailtramid
Returning Member

Bond Premium Error Box 13 exceeds Box 1 Form 1099

During smart check TurboTax indicated my Bond Premium on Tax-Exempt Bond Box 13 exceeded Interest Income on Box 1 of my 1099-INT and states "You must reduce the bond premium amount report on 1099-INT to the amount of Box 1, and report any excess on Schedule A."   Please note Box 13 does not exceed Box 8 Tax Exempt Interest, only Box 1.  How do I clear this error?

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3 Replies

Bond Premium Error Box 13 exceeds Box 1 Form 1099

contact support? i use a desktop version and do not have your problem.  must drive TT programmers nuts having to fix one version and hopefully not do anything that affects other versions.

 

sailtramid
Returning Member

Bond Premium Error Box 13 exceeds Box 1 Form 1099

Hmmm.  I also have the desktop version.  So you have the same situation, Box 13 Tax Exempt Bond Premium exceeding Box 1 Taxable Interest?

sailtramid
Returning Member

Bond Premium Error Box 13 exceeds Box 1 Form 1099

Solved the problem.  User malfunction.  I had mistakenly entered the amount for Bond Premium on Tax Exempt Bond in both Boxes 11 and 13.  Once I zero'd out Box 11 the error cleared.

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