@SteamTrain
What do you mean when you say "it's own 1099-Int"? As far as I know, Vanguard, for example, sends you one and only 1 1099-INT and TT has one and only one 1099-Int section. How does one go about entering each T-bill as it's own 1099-Int? I assume my Broker will put 2022's accrued interest on my 2023 1099-Int or will I have to piece this together next year by having two years of 1099-Ints to reference?
To further complicate things I owned a Muni's spanning two tax years. This is my ONLY bond that paid me interest in both 2022 and 2023. The Tax-Exempt accrued Interest does NOT appear on my 1099-INT. I had to enter it on the "We need to adjust the taxable amount section."
Vanguard gave me three items and I'm not sure what to do with them. The were in a section labeled not reported to the IRS - presented for your references in preparing taxes:
- Taxable Accrued Interest Paid
- Taxable Accrued Treasury Interest paid
- Tax-exempt accrued interest paid. = the exact amount from my Muni
