Have a Tax Question? Ask a Tax Expert
These are reported as taxable interest.
If the Tbills were 100,000 or more, you can take maintenance fees as a deduction. You should have received a 1099-int.
I am sorry, but by OID do you mean Original Issue Discount?
AND PUch TB can have three different meanings including Japanese bonds, can you tell me your meaning of Puch TB?
Teh 1099-OID is added to interest and reported on schedule B.
If you are wanting me to figure your total reporting of these two documents, I need to know wha the box by box entries are?
For example, box 1, box 2 of the 1099-OID, and the boxes of the 1099-B.
you have to report the disposition of the bond on Form 1040 Schedule D Part II. The sales price is the amount you received for the bond. Your cost basis in the bond is what you paid for it plus all the interest income you declared as OID. But it may be handeled differentl if you had to report interest every year.
I am ready to do the calculation for you, but I need one more piece of information. WAs this a T-bond where you were required to report interest every year?
I appologize, but I thought you could see from the red notation that I opted out on the question.
I tried to find other experts including tax attornies to help you. But we are not set up to actually figure your interest and entries on the forms. This is because there is too much information missing about the bonds themselves in order for us to be able to do it for you.
We can answer some targeted and general questions, but we really can not figure your capital gain, your interest or your taxes.
For example, to see what we are up against, please see this link: http://www.unclefed.com/IRS-Forms/2001/HTML/p5500105.html
We would have to see the orignial documentatin for the bonds, for example.
You do not have to accept the question, you can request that it be closed if you like. I can also try one more time to see if someone else can do your interest calculations for you.