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Interest income worksheet - reporting of bond premiums

bpierce
Level 3

When should one use Part D or Part E to report bond premiums being reported on a 1099?

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2 Replies 2
Terry53029
Level 11
Level 11

When you buy a bond at a premium, you add the premium to basis, or you can elect to amortize the premium, and deduct any interest from the bond each year from that premium, so where you report that depends on what your client did.

bpierce
Level 3

Got it..thanks!

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