I have tried to puzzle this out and my head is about to burst.
1) I owned a Municipal bond all year and received two interest
payments. But my statement also shows $31.60 in Original Issue
Discount. What the heck do I do with that? Does it make my taxes go
up or down? Does it affect my basis? The interest is completely tax
free; but I don't know about the OID.
2) I have some Treasury bonds with Accrued Interest Paid on Purchases,
and also Accrued Interest on Sale of Bonds. Do they make my taxes go
up or down. Which? Do they add or subtract from my basis?
If they affect my basis, will my brokerage statements account for
I appreciate the help!
- posted 7 years ago
-- > >
Click to see the full signature