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micjesse
New Member

How can I tell from Form 1099-B what are capital gains from U.S. Obligations for Maryland Income Tax purposes?

How can I find Capital Gains for U.S. obligations?
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2 Replies
ThomasM125
Expert Alumni

How can I tell from Form 1099-B what are capital gains from U.S. Obligations for Maryland Income Tax purposes?

You would have to look on the attachments to the Form 1099-B. It should be broken out there. Otherwise, you will need to call your broker and request that information.

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How can I tell from Form 1099-B what are capital gains from U.S. Obligations for Maryland Income Tax purposes?

It depends what sort of bonds you held - look at the bonds in the 1099B detail reporting if you had any capital gains on these - I'm not familiar with MD state tax but generally US Obligations refers to things like Treasury Bills, Notes, Strips; or Federal Home Loan Bank etc; but not Freddie Mac or Fannie Mae.

 

see following - but I'm not sure if there is a more recent version of this release

https://www.marylandcomptroller.gov/content/dam/mdcomp/tax/legal-publications/administrative-release...

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