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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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- Where amounts in Box 6 and Box 11 of 1099-OID are entered in Lacerte.
Where amounts in Box 6 and Box 11 of 1099-OID are entered in Lacerte.
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dmufeed
Level 2
04-22-2022
08:27 AM
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1 Comment 1
itonewbie
Level 15
04-22-2022
12:21 PM
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On the same Screen 11, under Adjustments of Federal Taxable Interest, as amortized bond premium.
Edited:
I overlooked that your question is about both Box 6 and Box 11. In that case, you'd enter these amounts on Screen 11, under Tax-Exempt Interest, as municipal bonds/private activity bond interest and Amortized bond premium on tax-exempt bonds.
For AMT and state tax purposes (if that's relevant to your client), you should refer to the material that comes with the 1099-OID or obtain the relevant information from the broker, like you normally do with other types of muni/private activity bond interest.
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