When a bond is purchased on the secondary market, you pay "Accrued Interest" as part of the settlement. Where and when do you report this to offset the interest received from that bond?
My T5 shows the full amount of interest received from that bond not the net.
Example I buy a bond in April 2023 for $x and pay $66 Accrued Interest on that settlement. The first interest payment of $100 is paid to me in June 2023. My T5 will show the full $100 interest payment in June so I need to account for the $66 Accrued that I paid.
Accrued Interest doesn't seem to meet the criteria for "Line 22100 – Carrying charges, interest expenses, and other expenses" and is not mentioned as an example in "Line 23200 – Other deductions"
There was a similar question a few years ago but no clear answer.
