Election to amortize bond premium in ProConnect Tax

This article explains how to input an election to amortize bond premium on Form 1099-INT, line 11.

• Once information is completed, ProConnect Tax generates an election statement with the election language and bond information.

How to enter an election to amortize bond premium

1. Go to Input Return ⮕ Other. ⮕ Elections. 
2. Select the Amortization tab.
3. Check the box for Amortize bond premium [171(c)].
4. Complete inputs for:
   • Description
   • Stated interest rate
   • Maturity period
   • Purchase price
   • Face value