I bought some secondary Treasuries last year. Only one matured before the end of the year. I'm looking at preliminary 2022 Tax Info that Fidelity shows me for the purchase and redemption
I bought $10000 worth for $10085. My ticket shows a market price of $10,009, $76 in accrued interest.
I earned interest worth $163 in 2 payouts.
I got $10000 at redemption. Fidelity shows this for my cost basis
- Original Cost $10,009
- Adjusted Cost $10,000.00
I'm confused as to how to enter this on my tax return.
1) Presumably, I can take a loss of $10000 (redemption) - $10085 (purchase price) = -85 on short term capital losses? Do I have to adjust the basis manually to account for the accrued interest?
2) I have to enter interest of $170 on my Schedule B
Is that correct? It seems like a fair amount of work if I have to keep track of the accrued interest on each purchase manually, especially over multiple years.
Note that the Fidelity data I'm mentioning is their 'Tax Info' for 2022, not the official 1099s or TT downloads (not out yet), which might do all these adjustments automagically, thereby reducing manual work.
Thanks!
This thread has been merged into this on-going topic.
Moderator Pops1860