I have a 1099-INT where the Interest Income is less than the Accrued Interest Paid on Purchases. This results in negative numbers where TurboTax says the numbers cannot be negative. How should I handle this?
Additional context: This is on a 2023 return I am trying to amend (because I did not understand accrued interest at the time). In 2023 I opened an SMA (Separately Managed Account) of bonds where all of the purchases were made in the last quarter of the year. I suspect some of the interest payments made to me related to the accrued interest payments must have landed in 2024, but it is pretty hard to track all of the bits, especially because I am not personally making those purchases.
Thanks!
--Mike
