My Fidelity 1099-B properly displays values of cost basis, sales price and gain. On importing to TT the gain value is displayed as zero, which is not correct. The imported cost basis and sale price are correct, though. I tried to repeat the import and also to edit - - but no success. Anybody from TT to react to this software problem?
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I would like to add that said transaction involved a tax free bond. TT recognized on box 1f an accrued market discount, but displayed a zero gain value -- in contrast to the 1099-B form from Fidelity.
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It turned out that no correction was needed and the filing was accepted as is by the IRS. looking at my filed return I found that the gain was reported as interest and an adjustment was made by TT to reduce its tax liability to zero. Confusing, but I guess this is how discounted municipal tax free bonds are being processed.
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