Purchased a $37,000 T-Bill (US TREASU NT 0.125%09/23UST NOTE DUE 09/15/23) on 6/27/22 for $35,763.00. It paid interest of $23.13 on 9/15/22, 6/15/23, and 9/15/23. It matured and paid $37,000 on 9/15/23.
The 2022 1099 Consolidated statement from Schwab showed 23.13 interest paid and $13 in Accrued Interest paid (which I deducted from 23.13 on my 2022 return).
The 2023 1099 Consolidated Statement from Schwab shows the interest paid of 46.16 on the 1099-INT (March and September). On the 1099B (long term covered) it shows Proceeds (box 1d) of $37,000, Basis (box 1e), and Accrued Market Discount (box 1f) of $1,237. Which nets out to $0 Realized Capital Loss. There is a section on the 1099 (Info not provided to IRS) called Amortization and Accretion for Fixed Income and it shows a “Market Discount Year to-Date” (and “Market Discount Life to-Date”) of $1,237.
Where do I make the adjustment so that the Turbo tax computes the tax on the $1,237? (I assume at ordinary rates)
