@frankel2944
The $$ in box 11 should be referring to some premium you paid for some type of Corporate or "Agency" bond you bought in some year either in 2024, or in a prior year...and the $$ there relate to the box 1 $$. But, if you never bought that type of bond, make sure the $$ aren't supposed to be in box 12 (Look at your paper form)
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Anyhow:
The accrued interest you PAID to the seller of that Treasury bond, is subtracted on a follow-up page after the main 1099-INT form...so it isn't entered in any of the boxes on the 1099-INT itself.
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In order to report it properly, in your situation, is to:
1) delete the box 3$ and (box 12 $, if any) from that 1099-INT.
2) manually create another 1099-INT as-if from that same brokerage and put the box 3 and (12 $$, if any) on that separate new 1099-INT.
THEN
3) ...as you Continue on to the page after that main form, the software presents a page "Do any of these uncommon situations apply?" .
On that page you need to check the checkbox for "I need to adjust the interest reported on my form".
4) On the next page you enter the Accrued Interest you paid for the bond in one box, and select "My accrued interest is included in this 1099-INT" as the reason selection.
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That handles the accrued interest properly as just belonging to the box 3 $$ amount.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
