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Sale of OID Instrument
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seltfam
Level 1
03-06-2021
01:16 PM
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Have an OID instrument that was bought in 2019 and reported OID interest accreted in 2019 fully taxable. In 2020 had additional OID interest fully reported. The instrument was sold in 2020 with the original purchase price plus the accreted interest as the basis and was sold for a long-term loss, but less than the accreted interest. The 1099 indicates that the loss is Ordinary Income. How do I enter this in ProSeries to reflect the ordinary income?
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