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Accrued Muni Interest
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ACCLIGHT
Level 3
10-04-2023
06:40 PM
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I have a municipal bond with $105 accrued interest and total Box 8 interest received of $263. When I enter the accrued interest adjustment in the Sch. B- E1 adjustment section instead of the exempt interest reflecting $158 it instead reflects a seeming random $8 adjustment with the rest being applied to other taxable interest. Obviously I can manually deduct from the reported amount but I am very curious as to what is happening but have searched without any material results. Any thoughts from brighter minds?
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msmith7305
Level 7
10-04-2023
09:43 PM
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Do you have one entry on Sched B that has both taxable and tax-exempt interest on it? If so, put the tax-exempt info on a separate line and see if that doesn't solve your problem.
