Prepared bagels maybe do taste fantastic (7)
I believe the answer is:
toasted
'prepared bagels maybe' is the definition.
(you might toast a bagel)
'do taste fantastic' is the wordplay.
'fantastic' is an anagram indicator.
'do'+'taste'='dotaste'
'dotaste' with letters rearranged gives 'TOASTED'.
(Other definitions for toasted that I've seen before include "grilled" , "Absent Friends may be" , "(Of bread) browned" , "cooked in one way" , "Saluted" .)