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    Interest income worksheet - reporting of bond premiums

    bpierce
    Level 3
    ‎10-09-2020 01:51 PM

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

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    2 Comments 2
    Terry53029
    Level 14
    Level 14
    ‎10-09-2020 03:20 PM

    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
    ‎10-09-2020 03:30 PM

    Got it..thanks!

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