Folks:
Client's 1099-B reports proceeds ($10,000) and cost ($10,000). But at the end it also reports realized gain or loss reiterating the proceeds numbers but stating $10,890.50 for cost basis and $10,000 for Adjusted.
I'm confused--which number do I use? What is this telling me?
M.
@sjrcpa Asking here since you could be lurking. Thanks for your time.
In screen 11 (code 37) is an input for "Amortizable bond premium for tax-exempt bonds". In contrast, the instruction from using F1 says to "enter amounts only attributable to taxable interest only." Do you see a way to reconcile these 2 things?
I figured it out. No response necessary.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.