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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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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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