How to Account for (1) Tax-Exempt Interest, (2) Tax-Exempt Accrued Interest Paid, and lastly, (3) Bond Premium on Tax-Exempt Bonds in Lacerte

[rptax]

Good Morning Lacerte Community,

I hope this message finds everyone well.

I have a consolidated 1099 and need help accounting for the following tax items in Lacerte.

My first question concerns where to INPUT the following information in Lacerte?

(1) Tax-exempt interest

(2) Tax-Exempt Accrued Interest Paid (where do I input this in Lacerte?)

(3) Bond Premium on Tax-Exempt Interest (where do I input this in Lacerte?)

My second question is how the items listed above affect the total amount of Tax-Exempt Interest reported on Form 1040 and PA 40 (the Pennsylvania State Income Tax Return)?

(a) Does Bond Premium on Tax-Exempt Interest reduce the Total Tax Exempt Interest reported on Form 1040, Line 2a?

(b) How does Tax-Exempt Accrued Interest affect the total number of Tax-Exempt Interest paid on Form 1040, Line 2a? 

(c) Does Bond Premium on Tax-Exempt Interest reduce the Total Tax Exempt Interest reported on the State Earned Income Tax Return PA 40, Schedule A, Line 6?

(d) How does Tax-Exempt Accrued Interest affect the total number of Tax-Exempt interest reported on the State Earned Income Tax Return PA 40, Schedule A, Line 6?

I know that everyone on here are busy so thank you in advance for your help and your time.

Respectfully,

RPTax