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Deductions & credits
Thank you for your response. However, your response is unclear. As stated in my original post above, my question is fairly simple, I had “accrued interest paid on purchases” pertaining to U.S. Treasury Bonds and Notes that I need to deduct from box 3 (Interest on treasury obligations) of my 1099 INT so that I am not taxed on the accrued interest that I paid the seller at the time I purchased the treasury obligations on the secondary market.
In Turbo Tax Deluxe when entering the information pertaining to the 1099 INT under “Tell us about your interest adjustment” there is a drop-down menu titled “Reason for adjustment” which only has two plausible reasons to use for my situation. The first is “"My accrued interest is included in this 1099 INT" and the second is “Other reasons”. I believe that I would use the first, “My accrued interest is included in this 1099 INT”, for the reason for adjustment. Do you concur?