When does accrued interest on a taxable corporate bond get deducted from total interest income? In the year of purchase or the year of maturity?
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When does accrued interest on a taxable corporate bond get deducted from total interest income? In the year of purchase or the year of maturity?
The year when the investor receives the first interest payment. (Disclaimer: I'm not a tax pro; just somebody who has interest, accrued and otherwise.)
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