Hello Golf, When you buy T-Bills (Zeros) the AMD is included as 1099-INT as Box 3 income and taxed fully as interest ad the federal level but ALL states are for...
The IRS:1) Treats cap gains from US Treasuries purchased at discount as INTEREST2) The IRS Forbids ALL states from taxing INTEREST on US TreasuriesCase closed: ...
I checked both the Arkansas Individual Income Tax Instructions booklet as well as the underlying tax code from the state taxing statutes and could find nothing ...
I think the solution to the problem must be found on a state by state basis. My TT step-by-step interview for my state return offered no such interest adjustmen...
For discounted bonds purchased after 1982 and held to maturity the IRS claims the discount is interest. When such bonds are held more than a year the bond disco...
