- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How does one show previously accrued/claimed interest on prior year returns for Series-EE bonds against 1099-Misc for full interest when they were cashed-in?
Prior tax years we claimed/reported the annual accrued interest on Series-EE bonds which were not cashed-in. When they reached final maturity and were turned-in to the bank, they correctly sent us a 1099-MISC which shows the entire interest over the life of the bond. How do we reflect the adjustment to this based upon prior year's interest claims in this year's return? I'm concerned that the IRS will follow-up on this down the road unless there's a way to reflect this against this year's 1099-MISC reported by the bank. (Note: we have all prior returns that show the accrued interest that was claimed for each tax year.)
Topics:
‎June 5, 2019
4:35 PM