Adjust amounts for nominee distribution, accrued interest, OID, or ABP

Follow these steps to make an adjustment for a nominee distribution, accrued interest, original issue discount (OID), or amortizable bond premium (ABP).
  1. Go to the
    Income
    folder.
  2. In the
    B&D
    screen or the
    Broker
    screen, open the
    Interest income
    statement window. Only use the
    Broker
    screen if you're entering a consolidated 1099.
  3. Add a 2nd line to the statement.
  4. Enter
    3
    ,
    4
    ,
    5
    , or
    6
    in the
    Type code
    field.
  5. Enter the adjustment as a positive amount in the
    Interest income
    field.
UltraTax CS calculates a subtotal for each code and reports it on Schedule B.
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