You do report tax exempt interest on Schedule B. But this was a buy and sell, transaction on Schedule D. Schedule B is by source, usually as in brokerage, while Schedule D is a list of all the individual buy and sell transactions. I'm not a tax pro, just someone who does their own for 30+ years, but I'd report according to the form received. On a zero coupon muni the difference between buy and sell isn't taxable federally; might be for state, and might be for AMT. You do not pay imputed gain annually on a zero coupon muni, as you would on a corporate zero, so in that respect it is acting like interest. If I don't have it quite right one of the tax pros will be along shortly! Regards, Chris
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. M