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