I purchased a corporate bond during the year. The purchase price included accrued interest to the seller of the bond. Is there a way for me to avoid being taxed twice on accrued interest?

Allan Madan, CA
 Nov 12, 2013


Yes, to avoid double tax you are entitled to deduct accrued interest you paid when you bought the bond from the interest income for the year. Accrued interest will be deducted in Schedule 4 under carrying charges and interest expenses.



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