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Deductions & credits
Ohhhh another major point, if you bought the bond, and it did not issue it's next interest payment until sometime in 2021 , then you cannot declare the accrued interest until the 2021 tax return filed in 2022.
i.e. you can't get a deduction for accrued interest, until the year the bond actually issues interest to you.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
March 8, 2021
4:22 PM