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Level 2
August 30, 2024
Question

Accrued Interest Paid

  • August 30, 2024
  • 4 replies
  • 41 views

My client purchased a US Treasury and the interest from it was $40K in 2022, and he also has an accrued interest paid in $26K.  He did not claim the accrued interest paid of $26K in 2022.  Can he claim the $26K accrued interest paid in 2023 while he received another 50K of interest from the same bond?

    4 replies

    rjs
    Level 15
    Level 15
    August 30, 2024

    You cannot use TurboTax to prepare tax returns for clients. TurboTax is only for do-it-yourself consumer use and cannot be used by paid preparers. Intuit (the company that makes TurboTax) has three tax software product lines for professional preparers: ProSeries, Lacerte, and ProConnect. You can find information about all three product lines at the following link.


    Professional tax software for preparers

     

    Kelly107Author
    Level 2
    August 30, 2024

    I am using Lacerte, not Turbo Tax

    Mike9241
    Level 15
    Level 15
    August 30, 2024

    Then you are using the wrong forum. contact a Lacerte agent. 

     

    Mike9241