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Accrued Mkt discount taxable when!
Old 04-01-2024, 04:11 PM   #1
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Accrued Mkt discount taxable when!

I have some bonds bought at discount in my taxable account. One matured dec 31 but funds not received until Jan 2. At that time the proceeds of the bond and the final interest payment were received.

The 1099 does not include the ast interest payment which was not received until this year. It does however include the accrued market discount as taxable in 2023.

It seems to me that should follow the receipt of proceeds as would be true in virtually every other case that comes to mind. But my broker, E•Trade, assured me they have treated this correctly.

Not a huge deal, my biggest concern was that they might correct this after I have already filed. But in my tax experience I have not run across this particular issue before. But perhaps some of you have and can shed light.

Thanks for your help.
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Old 04-02-2024, 09:57 PM   #2
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I haven't run into it. I just report what is on the 1099.

If you're concerned that they might change it you can always extend, pay if you owe and see if they change it between now and Oct 15.
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