Just to confirm, can I split my 1099-INT (with lines 1 and 11) into the following two entries (as if they were two separate 1099s) to take advantage of the two different adjustments as follows to cover the taxable amount:
1099-INT a: Line 1 interest (partial). Adjust taxable amount with amortized bond premium.
1099-INT b: Line 1 interest (remaining amount) and line 11 (in full). Adjust taxable amount with accrued interest already paid.
I would still have some leftover accrued interest paid that I can use next year to adjust some taxable interest then. Does this approach work? Thanks again.
