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Accrued Interest Tax Free Municipal Bonds
I know how to adjust for accrued interest on taxable bonds but do not know how to do that on tax free Municipal bonds within Turbotax. I purchased numerous tax free municipal bonds from various states in 2024. On each one I paid accrued interest. I will do a direct download into Turbo Tax from my brokerage company for interest, dividends and capital gains. How do I adjust the tax free interest in Turbo Tax to account for the accrued interest I paid on the municipal bonds I purchased? I live in a state that does not have state income tax. I need to do this because tax free interest is added back into the calculation to determine my Medicare premium.
‎January 29, 2025
10:06 AM