Being a Treasury noobie this year, I'm trying to figure out whether my accrued market discount (Box 1f of 1099-B) on US Treasury Notes is considered taxable income by the state of Massachusetts.
At this Fidelity site, I read the following:
At this Fidelity site, I read the following:
How do I know whether I bought the bond (er, note in this case) on the secondary market? I was looking back at my Schwab statement from the time I bought it, but I don't see any indication of whether it was bought on the secondary market. Does the fact there was an accrued market discount and accrued interest imply that it was bought on the secondary market?If you buy a bond for less than face value on the secondary market (known as a market discount) and you either hold it until maturity or sell it at a profit, that gain will be subject to federal and state taxes.
Statistics: Posted by taxAmateur1717 — Wed Feb 21, 2024 9:30 pm — Replies 1 — Views 316
