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- Report exempt-interest dividends from a mutual fund or other regulated investment company (RIC) on Form 1099-DIV. For a specified private activity bond with OID, report the tax-exempt OID in box 11 on Form 1099-OID, and the tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.
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However, you may choose to report the qualified stated interest on Form 1099-INT and the OID on Form 1099-OID. For a specified private activity bond with OID, report the tax-exempt OID in box 11 on Form 1099-OID and the tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.
- 1099-Div Instructions
Report bond tax credits distributed by a RIC or REIT on Form...
- 2020 Instructions for Schedule B
In general, your tax-exempt stated interest should be shown...
- 1099-Div Instructions
Feb 28, 2021 · For taxable bonds, the adjustment will reflect on Schedule B, Part 1. If adjustments for bond premiums are not reflected on your 1099-INT, you can manually enter the bond premium adjustment in the 1099-INT section of TurboTax. This is also where you can report any accrued interest paid.
Report bond tax credits distributed by a RIC or REIT on Form 1097-BTC. If a RIC or REIT distributes any credits with respect to its stock, the RIC or REIT must report the distributed credits that are treated as dividends on Form 1099-DIV.
In general, your tax-exempt stated interest should be shown in box 8 of Form 1099-INT or, for a tax-exempt OID bond, in box 2 of Form 1099-OID, and your tax-exempt OID should be shown in box 11 of Form 1099-OID.
To enter Form 1099-DIV, Dividends and Distributions, you can either: Use Source Data Entry. Use the following table to find where to enter the information. note. To access the columns for foreign amounts, select. Show foreign columns. from the toolbar. Liquidating distributions (cash or noncash) are a form of a return of capital.
Exempt Interest Dividends Form 1099-DIV, Box 12. Complete this screen as if your Tax-Exempt Dividend Income was reported in Box 8 of a 1099-INT. If you have an amount listed in Box 13, please disregard unless you are subject to Alternative Minimum Tax (AMT).
When you get the 1099-INT at the end, it will show all the interest the bond earned over the years. For instructions on how to tell the IRS that you already reported some or all of that interest in earlier years, go to IRS Publication 550 and look for the section on U.S. Savings Bonds.
