Interest income

Forum|Forum|5 months ago
February 24, 2026
6 replies
251 views

TT has input an item under interest income that I do not recognize! By that I mean it showed up in Schedule B after I had imported my data, and I cannot see it in the paperwork I have received. TT has a "data source" feature, and it lists about 5 potential tables to check. I do not have any of them specifically.

The item does not show up in the list of forms, as do the other Schedule B items. A closer look as I write this shows it to be a UST Note. There is a long list of numbers and the words "Accrued Market Discount".

I guess that gives me a clue for further searching but does anyone have a suggestion? Interest on US Savings bonds is usually printed on the relevant 1099-INT.

Best answer by JamesG1

Accrued market discount may be found in box 1f of an IRS form 1099-B.

Review your IRS form 1099-B entries. To view box 1f, you may have to click the box I have other boxes on my 1099-B to enter.

The explanation note in TurboTax states:

Usually, if accrued market discount is reported on your Form 1099-B, you should enter it here and we will include this amount as accrued interest on your Schedule B.

JamesG1Answer

Level 15

Accrued market discount may be found in box 1f of an IRS form 1099-B.

Review your IRS form 1099-B entries. To view box 1f, you may have to click the box I have other boxes on my 1099-B to enter.

The explanation note in TurboTax states:

Usually, if accrued market discount is reported on your Form 1099-B, you should enter it here and we will include this amount as accrued interest on your Schedule B.

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briandsmithAuthor

Level 5

I have further reviewed my 1099-B forms - there is nothing in box 1f on them. You mention checking a box "I may have more info etc." Since this is imported data, it is the financial organization that would do that and I am unsure how I would see that?
Is it possible to delete that item from schedule B and if so, how?

RobertB4444

Level 15

It is possible to delete the item from schedule B but an accrued market discount is an actual thing. It usually modifies interest reported on a 1099-INT. It should be reported.

You said that you had imported your brokerage forms. A 1099-COMB usually includes the 1099-B as well as a 1099-INT or 1099-DIV or all three. That accrued market discount should be an adjustment to the interest you received on your 1099-B and it should appear on your schedule B. Deleting it is a bad idea.

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