I had Turbo tax to log into my brokerage account and scan 1099, then file in Turbo Tax. for 1099-B, I sold federal treasure bills in 2024, there are two columns on 1099 B showing gains in 1)Realized gains 2)Market discount. Number in Realized gains is $180 lower than Market discount. Why did Turbo tax picked up number in Market discount column to file my tax form which is higher than Realized gains column? please help. thank you.
Expert Reviewed
T-bills are marketable securities, meaning that you can buy and sell them on the secondary market. When you buy or sell T-bills on the secondary market, the price may be different from the original issue price and accrued discount so you may realize a capital gain or loss.
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