Get your taxes done using TurboTax

@Brad999 

That can happen for a bond purchased late in the Year.....depending on the interest payment dates.

 

You cannot enter the accrued interest until after that particular bond issues it's first interest payment to you.

__________________________________

Example...A bond pays out interest in Aug and Feb....you buy a bond In Nov 2022 with $100 of accrued interest that you had to pony up.  But, it doesn't make it's next interest payment of (say) $350..to you..until Feb 2023. 

 

In this situation you must delay declaring the accrued interest until yoru file your 2023 taxes in early 2024.   SO you have to make a note to yourself in your new 2023 tax file to deal with it then.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*