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I'm looking for a clear example of Treasury Note interest payments. I've read this on the TreasuryDirect website:

Treasury notes pay interest on a semi-annual basis. When a note matures, the investor receives the face value.

When I drill down into the details at my brokerage, the Last Coupon date is 6 months prior to the Maturity Date.

Does this mean a 1-year note pays interest at 6 months and face value at 12 months? Or is there a 2nd interest payment? Is any part of the gain treated as interest?

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Yes they pay interest at maturity as well. Your broker may be using the term "Last Coupon" to mean the last coupon before maturity. The final "payment" you receive will include the face value of the bond and the last coupon.

Is any part of the gain treated as interest?

Not sure what "gain" you mean, but income from bonds is separated by interest and capital gain. Whatever "gain" you get other then the coupons is typically treated as a capital gain, but check with a tax professional in your area for more specific, relevant guidance.

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  • This makes sense. It means any gain from the final payout is already divided into face value and interest. Thank you for the insight. Sep 21, 2022 at 16:41
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    For US taxpayers if a >1year bond (includes all Treasury notes and bonds) is issued at a discount over .25% per year this 'Original Issue Discount' is amortized over the bond term and taxed as interest. See recent money.stackexchange.com/questions/152491/… and more links there. Sep 23, 2022 at 7:24

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