bertsetseg
Level 1

I received the following error message on a return. "Schedule B, total interest and total ordinary dividends must be greater than zero for e-file purposes. This return will need to be filed as a conventional return." 

Because the client's Form 1099 OID has "Original Issue Discount" which is more than their interest and dividend income. 

My questions are:

1. Can the 1099 OID (assuming this is a loss) create a negative income? Is this allowed?

2. If the Schedule B needs to have the negative amount, can I still E-file this return by somehow overriding the warning message? 

 

Thank you very much for your insight! 

0 Cheers