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Get your taxes done using TurboTax
Thank you for responding. I posted twice and just replied to a reply to the other post, so here it is.
I will try to be clearer. The 1099 from my brokerage (Robert W Baird Inc) in the section headed 2024 1099-INT reports interest income, interest on US treasury bonds and obligations, and tax exempt interest. They also report bond premium (covered lots).
In another section not reported to the IRS they report taxable accrued interest paid.
These amounts are all transferred correctly to TurboTax Form1099-INT worksheet.
However, TurboTax Schedule B is different. Additional interest from 5 Treasury notes are listed individually as accrued market discount. Where did these come from? Each of these notes is in the broker report with the interest as is reported on the 1099-INT, not these new amounts. The amounts on the Schedule B do not match anything.
Of note, the broker report gives a summary of information not reported to the IRS. In this part, a market discount is reported which matches the total of the mystery interest amounts. The broker report does not list this as taxable in their 1099-INT. The individual amounts in TurboTax schedule B are not in the broker report, so where did TurboTax get them?