Purchased Interest

Momofsix1 — Wed, 19 Feb 2025 17:20:04 GMT

My 1099 detail shows PURCHASED INTEREST is it possible to use this amount to reduce the amount of interest shown on my 1099? If so how do I enter it? Also is there another name for Purchased Interest? I don't see it listed anywhere on the program.

Re: Purchased Interest

RobertB4444 — Wed, 19 Feb 2025 17:25:50 GMT

Unfortunately interest paid on purchases is not deductible under the current tax law. It can't be used to reduce the amount on your 1099.

@Momofsix1

topic Purchased Interest in Get your taxes done using TurboTax

Purchased Interest

Re: Purchased Interest