Supplemental Info not reported to the IRS

Question

I received my tax forms from an investment firm, however one dollar item listed is not associated with any tax form… It is titled "Accrued interest paid on purchases."  Can someone please shed some light on this on whether I need to report this to the IRS?  If so, where do I apply this?  The title of the page this item is under is "Supplemental Info not reported to the IRS."

Thank you!

donnieboston · Answer

https://community.freetaxusa.com/discussion/comment/4425#Comment_4425

thanks again DaveT  It saved me $410 on my taxable interest.  Really appreciate it… !! It says (uncommon) in parenthesis next to the box… Ought to tell you something… lol

donnieboston · Answer

Thank you very much.  I will soon check it out….

DaveT · Answer

On the 1099-INT input screen, there is a field for "Accrued Interest". That amount gets subtracted from the total interest amount on Schedule B.