Business & farm

I can help with entering the information but I can't respond to the programming. The seller of the bond reports the accrued interest while the purchaser will deduct the accrued interest from the 1099-INT.

You can enter the accrued interest adjustment in the 1099-INT section of TurboTax. You will see the adjustment on Sch B.

Follow these steps to make an adjustment:

1. Select Federal Taxes
2. Select Wages & Income
3. Edit your 1099-INT information
4. Select Continue
5. Select I need to adjust the taxable amount, select Continue
6. Enter the accrued interest paid in the Adjustment box - enter a positive amount to subtract the interest
7. Select the Reason for Adjustment as My accrued interest is included in this Form 1099-INT -my accrued interest is included.