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1099-INT Market Discount

jerry
Level 5

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?)

 

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itonewbie
Level 15

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.

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3 Comments 3
itonewbie
Level 15

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.

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jerry
Level 5

Thanks!

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itonewbie
Level 15

NP, @jerry!

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