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easily_confused2
Returning Member

How to declare accrued market discount on t-bill as income?

I have a long term gain that is accrued market discount (from a t-bill).  It is treated as interest, so taxed at income rate.  I can opt to treat all accrued market discount as income, so it will be taxed at long or short term rates accordingly  (I think). Can turbotax deal with that?

 

Accrued market discount is a new concept to me.  I was surprised that for t-bills it is not state tax exempt if I acquired the t-bills on the secondary market.  Is that correct?

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2 Replies
easily_confused2
Returning Member

How to declare accrued market discount on t-bill as income?

How do I get support for this issue.  Is there some way to file a case? (there used to be)

Am I posting in the wrong place?

easily_confused2
Returning Member

How to declare accrued market discount on t-bill as income?

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