- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You are not allowed to declare (subtract) the interest accrued, until the year you actually get the first interest payment from that purchased bond.
Thus, if you buy a bond in (say) November of 2023, that doesn't pay you any interest until sometime in 2024...then you have to wait until your 2024 tax prep to declare (subtract) the accrued interest for that bond.
Yep....you have to find out, obtain, & keep good records yourself.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
a week ago