I received Form 1099B with some accrued market discount for a T-Bill purchase / sale. All other T-bill transactions are reported on the 1099-INT form as "interest from US government securities or Treasury obligations" but for some reason, this single T-bill purchase is included here on 1099-B.
The 1099B lists an accrued market discount of $119. Now, I'm unsure how to treat this amount? Is this taxable as interest income (not included in 1099-INT) or is this capital gain? Would appreciate any guidance on how to treat this.
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you must have sold before maturity so the AMD is US Interest that adds to your tax basis,
No, i didn't sell before maturity. My proceeds match the face value of the T-bill. Should AMD then be interest or short term capital gain?
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