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Deductions & credits
@SteamTrain
Separate but related question. Broker has a section in composite 1099 below 1099 int which states following are not reported but presented here for your reference. First line has the “taxable accrued interest paid” with $1xxx. All other lines below, including “taxable accrued treasury interest paid” are zero. When I go to the interview and it asks for adjustments and I list the $1xxx as accrued interest, it then shows it on the schedule b. But when I get to my MD state form, it has reduced the amount on form 502SU line ab by several hundred dollars from what it was before I entered the adjustment (prior to adjustment, line ab on the 502SU consisted of box 3 minus box 12 from the 1099 int. Is this correct?
February 12, 2024
4:38 AM