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RJ50
Level 1

OID bond premium

Anyone have an idea why TT turns the box red when I insert a bond premium on the OID page? The premium is less than the OID amount. If I select anything other than Bond Premium TT appears to be happy.

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5 Replies

OID bond premium

You need to enter an amount for bond interest (Box 2).

RJ50
Level 1

OID bond premium

There is an amount in Line 2. And it is greater than the amount of the bond premium. I'm trying to enter the premium in Line 10 which then gives me a red box there. If instead I attempt to enter it below that as an adjustment (as bond premium) it gives me a red box there. However, I just noticed that if I enter the value in Line 10 AND ALSO as an adjustment, the adjustment box is normal but Line 10 is still red. I believe I should just be able to enter the value in Line 10. Not sure what TT is looking for.

OID bond premium

if it's the same bond how do you have OID and bond premium? if this is a 1099 from a broker and represents multiple bonds use 1099-INT. 

RJ50
Level 1

OID bond premium

There are two bonds, both are OID. The premium is only for one.

RJ50
Level 1

OID bond premium

Also, it's a variable rate bond that is subject to OID.

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