1099-B question

Forum|Forum|3 months ago
March 24, 2026
1 reply
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I have a 1099-B from Goldman Sachs for a zero coupon CD. The heading says the basis is reported to the IRS. Both the proceeds and cost basis are the same, so the gain or loss is zero. It says the gain or loss may be ordinary. When I put this information into TT, I get an error message saying that the gain or loss cannot be ordinary. When I go back and change this in TT, the error goes away. What is correct? And would this create an issue if I leave the ordinary blank?

ThomasM125

Level 15

I'm not sure if the gain is ordinary or not, but since it is $0, it doesn't matter as it won't affect any other calculations on your tax return. It is true that ordinary gains can be taxed at less favorable rates than capital gains, but since you have no gain it won't make a difference in your case.

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