mickey
Level 4
09-06-2024
11:53 AM
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A client received a 1099-B.
The form shows gross proceeds and cost for US Treasury bills.
At the top it says "Transactions we do not report to the IRS - non-reportable proceeds and cost basis information The last column header says "difference" instead of gains or loss.
I've never seen this type of reporting before. Do I report it on schedule D like usual? Or not at all? I tried searching on line but most of what came back addressed interest income and not this.
Any help would be much appreciate it. Thank you.
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Level 15
09-06-2024
01:01 PM
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check this link to explain why you may get a 1099B.
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.treasurydirect.gov/forms/sec0011.pdf