if I buy a brokered CD that includes some accrued interest, how is that handled on the 1099 at the end of the year? For example, a $100k CD has a couple days accrued interest, so I bought it for $100,123.00. Will the 1099 from the brokerage account net out this $123 from the total interest I receive on the CD? Or do I have to do some fancy footwork on my end?
In article , Gil Faver
Sorry, but we have been on a 2 1/2 week visit to Spain & Portugal and just got back. Coming back was part of an Atlantic repositioning trip for the ship, five solid days of not getting on and off the ship for another tour, and the casino open every day:^)
Anyway -- brokered CDs usually result in a 1099B, and whether they issue the 1099B or not, report the commission as cost of sale on schedule D.
Thanks - I really didn't think this question had you stumped, so I knew you were up to something. Glad you are tan and rested.
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