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Election to amortize bond premium in Lacerte

by Lacerte Tax 2023 Updated 11 months ago

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

  1. Go to Screen 46, Elections.
  2. In the left-hand navigation, click on Election 1.
  3. In the Section list on the left, select Election to Amortize Bond Premium.
  4. Check the box for Amortize bond premium [171(c)].
  5. Complete inputs for:
    1. Description
    2. Stated interest rate
    3. Maturity period
    4. Purchase price
    5. Face value
Lacerte Tax

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