USA NQSI for a bond and Taxes

bobAnInvestorNJ

bobAnInvestorNJ

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I was looking at a friend's 1099 and I saw the term NSQI. It was for a variable interest rate bond. Am I correct that means non-qualified stated interest? The 1099 showed both the interest the bond paid plus a value for the NQSI. The bond was issued at par. For tax purposes can he ignore the value for NQSI since he never got the money?
 
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