This article explains how to input an election to amortize bond premium on Form 1099-INT, line 11.
- Once information is completed, Lacerte generates an election statement with the election language and bond information.
How to enter an election to amortize bond premium
- Go to Screen 46, Elections.
- In the left-hand navigation, click on Election 1.
- In the Section list on the left, select Election to Amortize Bond Premium.
- Check the box for Amortize bond premium [171(c)].
- Complete inputs for:
- Stated interest rate
- Maturity period
- Purchase price
- Face value