1099-INT Market Discount

[jerry]

I have a Schwab 1099-Consolidated that reports a Market Discount (identified as 1099-INT Box 10) for US Treasury interest in the supplemental section.

Where do I enter this in Lacerte?  As a negative amortizable bond premium?  Or is it already included in the interest reported in Box 2 (and why is it only in the supplemental area, not a reported amount?)

[itonewbie · Accepted solution]

That's interest income accrued on discounted debt instruments.  You'd enter that as a negative amount under Accrued Interest on Screen 11.  It'd show up as a positive adjustment on Sch B.

[jerry]

Thanks!

[itonewbie]

NP, @jerry!