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Accrued Market Discount different when using summary vs transaction method

hangryhippo

I have a market discount adjustment of $4620 (US Treasury note redemption) on my 1099-B that should show up as interest on Schedule B. When I entered my 1099-B information one transaction at a time, it showed up as $4620 as expected. However, when I used the summary method, it showed up as $3346. That also happened to be the realized gains (proceeds minus cost basis of all my transactions). Is this a bug or a user error?

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Comments

rachels

Hi hangryhippo,

Our software should be handling those numbers correctly. There may be some issue with the way those were entered into your account, but we cannot see specifics when you contact us in the Community. I suggest you log into your FreeTaxUSA account, then click the Support link at the top of your screen. If you contact us that way, we can discuss the specifics of your account with you.