I have a long term gain that is accrued market discount (from a t-bill). It is treated as interest, so taxed at income rate. I can opt to treat all accrued market discount as income, so it will be taxed at long or short term rates accordingly (I think). Can turbotax deal with that?
Accrued market discount is a new concept to me. I was surprised that for t-bills it is not state tax exempt if I acquired the t-bills on the secondary market. Is that correct?
