mike739-
New Member

Get your taxes done using TurboTax

I opened a new brokerage account on 12/15/24 and bought a T-note on 12/20/24.

I paid  "accrued interest" of $3000 in the settlement of the purchase. 

 

The 1st coupon date for the T note isn't until May 2025, so my 2024 1099-INT has $0 interest in box 1 and box 3.   Turbo tax won't allow me to enter the $3000 taxable accrued interest paid as an adjustment (I assume because there was no reportable interest received  to offset it with).    I do have other interest income in other accounts at a different brokerage that I have entered  that could be offset.   Any idea what I am supposed to do to deduct the accrued interest I paid in Dec 2024?