Hi Marilyn, thanks for your reply. Mine is a how to question. I understand I need to report tax free interest from municipal bonds on line 8. My question is how do I deduct accrued interest I paid in the purchase of numerous tax free municipal bonds in 2024? I understand this deduction would have no impact on my income taxes paid, but it does affect what I pay for my Medicare premium. For that calculation I have to add back into my total income the interest eared on tax free bonds. I should be able to deduct from that total the accrued interest I paid, as that really is not interest earned. I don't know how to make that adjustment in Turbo Tax, and if I don't make that adjustment in this years tax forms, I will be paying a higher Medicare premium in 2026. All the directions I have been given thus far is how to remove accrued interest from taxable bonds, I want to know how to remove accrued interest paid from tax exempt bonds. I hope my question is clear.
