NY IT-201 line 20
I have a client with a 1099-INT with box 8 tax-exempt interest and box 13 bond premium on tax-exempt bond. When I entered this in Lacerte, it handled the federal correctly (reduced the tax-exempt interest by the amount in box 13) but it added back all of the box 13 amount on line 20 of the IT-201 even though it's all NYS tax-exempt interest and bond premium.
If I enter the box 13 amount as "Non New York amortizable bond premium on tax-exempt bonds {NY}" instead of as "Amortizable bond premium on tax-exempt bonds", then the NY return is correct but the federal tax-exempt interest amount is overstated by the bond premium.
I can't seem to get both the federal and the NYS return correct.
In prior years, this did not happen in Lacerte.
Is this a Lacerte issue or am I missing something?
