I received a 1099B for a bond I purchased new 5 years ago. the Cost basis is $2500 and the proceeds are $2873. The basis and net proceeds have been reported to the IRS. According to turbo tax I have to pay tax on the $373 capital gains.
I have been receiving 1099OID for 5 years and have paid taxes on the amount. The 5 years worth of 1099OID amounts to $373. Do I adjust the cost basis on Turbo Tax to $2873 to reflect the tases I paid over the last 5 year?
