Do I subtract amount of 'taxable accrued interest paid' from box 1 'interest income' on 1099-INT thus reducing interest income amount?

[markie]

did u find out how to do it in turbo, if it's not on same page u report 1099 income

[AmyC]

You can enter the accrued interest adjustment in the 1099-INT section of TurboTax. 

Follow these steps to make an adjustment for the accrued interest paid on your taxable bonds:

1. Select Federal Taxes
2. Under Wages & Income select Interest on 1099-INT
3. Enter your 1099-INT information, select Continue
4. Select I need to adjust the taxable amount, select Continue
5. Enter the accrued interest paid in the Adjustment box
6. Select the Reason for Adjustment as My accrued interest is included in this Form 1099-INT

@markie