Yes, enter the accrued interest for whichever 1099-INT shows actual interest received.
BUT....you will have to make one more change. For whatever type of bond you paid Accrued interest when buying it, you need to move all those $$ to a separate 1099-INT. IF you don't, do that accrued interest entry will be spread proportionally between boxes 1,3,&8
Example: You purchased a treasury bond in the secondary market, and paid the seller whatever the accrued interest was..... You need to move boxes 3&12 values to a separate new 1099-INT before entering the accrued interest on the follow-up page on that new 1099-INT.
IF a corporate bond..it's boxes 1&11
IF Muni bond, it's boxes 8,9,13
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No need to separate just the $ from the bond purchased, just all $$ in boxes 1&11, or 3&12, or 8,9&13.
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IF you ever purchase a bond later in the year, and it doesn't pay the next interest payment to you until the next calendar year...you have to wait until the following year's tax return to put in the accrued interest adjustment.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
