Had a short-term US Treasury Bill that I held through maturity and resulted in $478 interest.
The Treasury Bill is listed on 1099-B as a short-term transaction "for which the basis is not reported to the IRS". The cost basis is shown as the same as the proceeds (amount received at maturity) and the Gain / Loss is reported as $0.
The Treasury Bill is also listed on 1099-OID with the $478 reported as the Original Issue Discount.
From looking at other answers in the TurboTax community, it looks like this interest should actually be reported on my 1099-INT so that I can then mark it as interest on US Treasury obligations and hence would not be taxed at the state level (in my case, Colorado).
Is this correct way to handle this? That means I'll remove the 1099-B US Treasury entry that automatically came through when transactions were downloaded by TurboTax. And I'd then manually create a 1099-INT entry in TurboTax.
