I have a client who pays accrued interest on a bond purchase in Account 1, then transfers the bond to Account 2 before the interest is collected. Lacerte (works pretty similarly to ProConnect) doesn't complain about that too much, but they're not munis.

My understanding is that you can only net accrued interest against interest received from that same bond. I used to have a spreadsheet that matched it all up to figure out how much accrued interest got deducted in the current year and how much had to be carried forward to the next year. Fortunately, the account was moved to a different reporting company who does that math and gives me a nice schedule by state.