I'm puzzled by the statement of AliciaP1 who said, "All bonds have accrued interest." My understanding is that the term "accrued interest" as used here means that interest paid by a bond's purchaser in the secondary market. As such, for tax reasons, there is accrued interest for a bond only for the year of purchase. That is, during subsequent years, that bond has NO accrued interest. Am I missing something?
