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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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.
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.
Thanks!
NP, @jerry!
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