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Get your taxes done using TurboTax
Thank you MonikaK1 for your quick response. I tried your suggestion to manually enter my Accrued Interest adjustments on the 1099 form below box 17 re: Interest I paid the sellers that they were entitled to when I purchased the bonds. I would have expected that my refund would have increased since I should not have been taxed on interest I didn't collect, but it decreased instead. Is my thinking correct since I didn't capture all the interest that the bond interest paid ( the seller did) and I entered an "Adjustment to Interest" and if so why do my taxes increase (refund decreases)? Should I have entered a negative number?
March 2, 2023
1:37 PM