I misinterpreted what you posted. I took the situation as one in which some of the bonds had not yet made their first interest payment after being purchased. If all of the bonds made their first interest payment after being purchased in the same year, then all of the accrued interest that was paid when the bonds were purchased should be included in the accrued interest adjustment in the income tax return for that year.My question on the above, though, is why couldn't I deduct all of the accrued interest in 2023 since I have received interest this year on the bonds that mature in 2024?
Statistics: Posted by FactualFran — Mon Apr 08, 2024 12:56 am — Replies 1099 — Views 162642