Purchased Interest

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.

posted

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

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I've requested a refund long time ago - I haven't used the service once & it was purchased by a mistake

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Purchased Interest