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A
abafia
Level 1
February 18, 2024
Question

Securities purchased with accrued interest paid

  • February 18, 2024
  • 1 reply
  • 10 views

Hi all.  There is a section in a tax information statement (1099-B, 1099-INT, 1099-DIV) that is called "securities purchased with accrued interest paid."  Is that accounted for in the 1099-INT portion of the statement?  Thanks,

Andy

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      1 reply

      sjrcpa
      sjrcpa
      Level 15
      February 18, 2024

      Look at the detail of the interest income. Bonds pay twice a year. Do the math and see if the interest income has been adjusted. If not, adjust manually.

      The more I know the more I don’t know.
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