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mwsda7
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My Fidelity tax statement lists Accrued Interest Paid on Purchases. Can I report that in the OID section where it says "I need to adjust these amounts?"

 
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My Fidelity tax statement lists Accrued Interest Paid on Purchases. Can I report that in the OID section where it says "I need to adjust these amounts?"

Enter your accrued interest paid in the same area that you reported your interest.  Follow these steps:

  1. Select Federal Taxes
  2. Under Wages & Income select Interest on 1099-INT
  3. Enter your 1099-INT information, select Continue
  4. Select I need to adjust the taxable amount, select Continue
  5. Enter the state that pays your tax-exempt interest, select Continue
  6. Enter the amount of your accrued interest paid as a positive number
  7. Select the Reason for Adjustment:  My accrued interest is included in this Form 1099-INT 
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