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Author: broadmoor Three stars, 500 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35392  
Subject: Accrued interest Date: 2/4/2010 10:05 AM
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Tried this on the tax board and received no answer, so, I thought to attempt to ask it here.


I am merely asking a favor of someone with knowledge. Until 2009 I had been a bond fund clone, but last year purchased some secondary individual bonds. I understand accrued interest, and how one deals with it on Schedule B. The IRS site explains the procedure quite well, but does not address the following issue: while I think I wait until next year's tax return to subtract the accrued interest I have paid on bonds on which I did not receive interest in 2009, I am not certain; I did pay the money in 2009, and my 1099-INT lists an accrued interest total. It's logical both ways, and in the end makes no quantitative difference, but I want to do this correctly. Thanks in advance, just for reading.
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