Example of ST Transaction
Proceeds $100,000
Cost $98,434
Accrued Market Discount $1,566
After entering:
1. It brings to Form 8949 as code D and zero gain / loss
2. It brings the $1,566 to schedule B as interest
I also entered:
1. $ amount accrued interest paid on purchase on the fidelity statement for this bond into the turbo tax 1099 Int "I need to adjust the taxable amount as accrued interest is included in this 1099 INT
2. It then takes this as a reduction on schedule B (to offset the above accrued market discount).
Does this sound like the proper input and outcome?
Thanks
