What is accrued interest?
PeterSaxton wrote:
On 23 June, 00:22, Ronald Raygun
wrote:
PeterSaxton wrote:
Ronald
I don't think it's as simple as that.
The OP needs to get an explanation of the statement from the preparer.
Do you think there's something unusual going on?
Yes. Why is accrued interest paid a negative number but there's no
accrued interest as a positive number?
But there was. The OP wrote "One figure is a gross interest ... Then
another entry shows ...".
However, the explanation meanwhile offered by Roger Morton seems highly
plausible, i.e. that, following the usual periodic crediting of interest,
the portion of the interest which had accrued before the stock was
purchased was deducted and remitted to the previous holder, and that
therefore only the difference should count as the current holder's
income for tax purposes.
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