New York State
Here is the subject case:
1) A US Treasury Note is purchased on the secondary market at a discount.
2) The Note is held to maturity and then redeemed.
3) The amount of the "Accrued Market Discount" (Box 1f reported on 1099-B for TY23) is determined to be interest for income tax purposes.
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Here is the Question:
Is this interest from the accrued market discount exempt from NY State income tax?
Important note to avoid any misunderstanding:
This is not a question about the interest from the Note reported on Form 1099-INT which I am aware is NY State tax exempt. It is a question about the interest reported on form 1099-B as "Accrued Market Discount."
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Thank you for any definitive specific answer and if a citation can be provided that would also be appreciated.
Here is the subject case:
1) A US Treasury Note is purchased on the secondary market at a discount.
2) The Note is held to maturity and then redeemed.
3) The amount of the "Accrued Market Discount" (Box 1f reported on 1099-B for TY23) is determined to be interest for income tax purposes.
=====
Here is the Question:
Is this interest from the accrued market discount exempt from NY State income tax?
Important note to avoid any misunderstanding:
This is not a question about the interest from the Note reported on Form 1099-INT which I am aware is NY State tax exempt. It is a question about the interest reported on form 1099-B as "Accrued Market Discount."
=====
Thank you for any definitive specific answer and if a citation can be provided that would also be appreciated.
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