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zoujie85
New Member

accrued interest for the bonds I bought in 2023 only paying interest in 2024

I bought some bonds in 2023 and they will pay interest to me for the first time in 2024. In 2023, the 1099-INT shows some accrued interest (that the seller collected from me). My question is that in Turbotax, do I enter this accrued interest to reduce my interest income in 2023? Or, I will enter the accrued interest when I do the 2024 tax return when I first receive the bond interest in 2024? 

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2 Replies

accrued interest for the bonds I bought in 2023 only paying interest in 2024

 

accrued interest for the bonds I bought in 2023 only paying interest in 2024

 enter the accrued interest when you do the 2024 tax return when I first receive the bond interest

 

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