When inherited, the value of a municipal bond was slightly greater than the face value. The bond matured during 2012, and paid the face value. Does the higher inherited basis create a capital loss when the bond matures? I have the impression that such "losses" aren't deductible for tax exempt bonds, but that is from a brief conversation with my father's tax preparer several years ago. I may not have completely understood what was being said.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra