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Get your taxes done using TurboTax
Yes, if you were just reporting the accrued market discount. We assume this transaction relates to a bond that has matured and for which you purchased at a discount to the face value. In this type of scenario, the accrued market discount is taxed as interest income and not capital gain. Therefore, your capital gain should be zero.
To follow-up on the post from @MarilynG1, you will need to report the interest income on Schedule B and to report this interest income, you will need to go into Forms mode. And then follow the instructions as provided by @MarilynG1.
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March 24, 2023
11:22 AM