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- how to report Accrued market discount in Form 1120-S
how to report Accrued market discount in Form 1120-S
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hgtc
Level 5
yesterday
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S-corp has accrued market discount ($540) on US Treasury bond sold. When entered this transaction in Sch D, Lacerte automatically deduct the gain. But, are we supposed to report this as interest incomes somewhere?
I can not find where does Lacerte report this $540 interest incomes in S-Corp program. Does anyone know?
Also, should this $540 be tax-exempt incomes for CA and pass through to shareholder?
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