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Get your taxes done using TurboTax
you were required to deduct the accrued interest paid to the extent of interest received in 2022 (bond by bond). if you didn't get any interest in 2022, the full amount of accrued interest can offset the interest received in 2023.
if you didn't deduct the accrued interest paid in 2022 to the extent received you can only use the portion that would be left in 2023. you can go back and amend 2022 if it's worthwhile.
‎February 20, 2024
8:15 PM