SL
Level 3
03-21-2019
02:05 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
client received broker statement reporting bank cd redemption proceeds reported as a sale on broker statment (along with stock sale proceeds) but the basis was not reported to irs. supplemental information indicates this was a contingent debt instrument and the loss on the redemption is to be treated as an ordinary loss (as the loss is less then previously earned interest). how do i report this transaction and respective ordinary loss in proseries?
Best Answer Click here
Labels