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On my 1099-INT I have and amount listed Premium Line 11.

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On my 1099-INT I have...
On my 1099-INT I have and amount listed for Bond Premium Line 11. What do I with this number?
Submitted: 2 years ago.Category: Tax
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3/8/2016
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago
PDtax
PDtax, Certified Public Accountant (CPA)
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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 2 years ago

The amount of bond premium is deducted against your interest income reported on the same form.

If you earned regular line 1 interest, deduct the line 11 premium as an adjustment to line 1 income.

If you invested in US Savings Bonds, deduct the line 11 premium against the line 3a income.

If you invested in US treasuries, deduct the line 11 premium against the line 3b income.

Thanks for asking at Just Answer. Please rate my assistance using the star scale to close out your question. I'm PDtax.

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