Accrued Interest And Taxes

daylilly
  |     |   19 posts since 2022

I bought a treasury from a broker and paid accrued interest on it.

Can I deduct that on my taxes? Thank you!



Answers
w00d00w
  |     |   360 posts since 2012
yes. the accrued interest paid when purchasing a treasury for a taxable account on the secondary market should be deducted from interest earned on the treasury after purchase. if using tax software, when entering interest earned on the treasury, there should be a question posed about whether adjustments need to be made to that amount.
daylilly
  |     |   19 posts since 2022
Thank you, wOOdOOw.


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