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Get your taxes done using TurboTax
Thanks for the reply.
I did locate the 1099-OID and was able to get the $478 interest exempt from my Colorado return.
As I previously mentioned, the Treasury Bill is listed on 1099-B as a short-term transaction "for which the basis is not reported to the IRS". On the 1099-B, the cost basis is shown as equal to the proceeds ($75,000 redemption amount) - not the other way around as you stated in your response, in which case both would show $74,522. Are you telling me I should override these values on the 1099-B in TurboTax?
‎February 18, 2025
4:17 AM