Sale of Treasury Bill Is Incorrectly Reported with Short-Term Capital Gains (823031)

RESOLUTION

• Record the sale of Treasury bills at the exact quantity and price that you paid. For example, if you paid 99.5 for $10,000 of Treasury bills, record 99.5 in the Price box and 10000 in the Quantity box.
• Type that amount that matured in the Total box. In this example, type 10000 in the Total box.
• Money calculates the difference between the sale price and the total value of your Treasury bills and enters the value as commission or accrued interest. Make sure that the difference ($50.00 in the example) appears in the Accrued Interest box.
• Money will report this transaction as a sale of a security and export the value to a Schedule D item. Because the purchase price and the sale price are the same, the capital gains are reported as zero ($0.00).
• Money will export the Accrued Interest of the Treasury bill sale to Schedule B.
• If you paid a commission on the purchase of the Treasury bills, you must modify the sale calculation to include the commission in your basis. For example, if you bought $10,000 worth of Treasury Bills at a price of 99.5 and paid a commission of $25, then subtract the amount of the commission from the amount in the Accrued Interest box. Make sure that the amount in the Total box ($10,000 in the example) does not change and that the Commission box is empty. Money will modify the value in the Price box to reflect the commission.
• Record the sale of the Treasury bill as a Sell transaction and not as a Redeem CD/Bond transaction.