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Verify your entries. The adjustments box is opposite what you think. A positive amount subtracts.
The seller of the bond reports the accrued interest while the purchaser will deduct the accrued interest from the 1099-INT.
You can enter the accrued interest adjustment in the 1099-INT section of TurboTax. You will see the adjustment on Sch B.
Follow these steps to make an adjustment:
Thanks, amyc
Yesterday I also posted a help request with the subject as " Schedule B Accrued interest not matching 1099 INT accrued interest data" baldietax told me to split the 1099 INT into 2 1099 files. One with taxable interest and the other one with tax free interest. Put the Accrued amount with the first one. I followed that and the error went away.
I am very happy and appreciate your response too.
gnest02
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