The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/inherited-called-muni-bond-30496760.aspx

Subject:  Inherited called muni bond Date:  1/20/2013  11:16 PM
Author:  vkg Number:  117447 of 121175

The amount involved isn't much, but I would like to report the transaction correctly.

When the muni bond was inherited in 2011, it had a market value of $5,035 and a face value of $5,000. I believe, it was called and not matured in 2012.

Is there a capital loss? Would there have been a gain, if the market value was lower than the face value?

All interest is federally deductible. Interest is not deductible in my state.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us