Get your taxes done using TurboTax
@SweetieJean Maybe a numerical example will be easier to understand where the bug lies.
Assume the US Treasury Bonds paid 750 in interest, they were bought at 97,000 and sold at 100,000.
The difference between 100,000 and 97,000 is made up of two components, accrued market discount of 1000 and a capital gain of 2000. All of this is taxable at the Federal level and NONE of it is taxable at the NJ level.
Here are some screenshots of the forms:
The bug is that the 1000 in accrued market discount of the U.S. govt bond transaction shows up as NJ taxable interest on line 16a. It should instead be added to line 16b which is NJ non-taxable interest.
If there is a workaround, I would be grateful.
