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Securities purchased with accrued interest paid
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abafia
Level 1
02-18-2024
04:49 PM
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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
1 Comment 1
sjrcpa
Level 15
02-18-2024
05:30 PM
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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.
