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Securities purchased with accrued interest paid

Level 1

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,


1 Comment 1
Level 15

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.