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I have an account at Fidelity. Last year I sold some Treasury Bills before they matured. Some of the sales were gains and others were losses.

When I got my Fidelity tax package, it showed the gains as interest on 1099-INT alongside the interest earned by T-Bills that had simply matured. However, it doesn't show the losses anywhere.

Is this reporting correct? Why are the losses not reported anywhere and what do I do about this?

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  • 3
    What does Fidelity say?
    – RonJohn
    Feb 14 at 3:11
  • 2
    Does the gain they reported match the gain on the ones that were sold for a gain, or could they have netted out the gains and losses in one line item?
    – D Stanley
    Feb 14 at 17:11
  • The gains only match the transactions that were sold at a gain. The transactions that resulted in a loss do not appear anywhere. They are not netting anything. Fidelity initially said this was a known bug in their reporting when I reported this last year. Now that tax time is upon us, they claim they don't have to report it at all.
    – sam
    Feb 15 at 6:25
  • There isn't enough information here about what you bought and when you bought & sold the T-Bills. Just want to confirm you bought 52week and under T-Bills and how they were bought (competitive/non-competitive bid). The old 2021 Pub 550 has and entry on Treasuries and irs.gov/tax-exempt-bonds/bond-holders has links to other possible documents especially OID-Pub 1212
    – Morrison Chang
    Feb 15 at 8:22
  • The T-bills were bought and sold at Fidelity. These are all secondary market transactions. All T-Bills are 52-week and under. Fidelity is only reporting the transactions that resulted in a gain. The entire gain is reported as interest on 1099-INT. Fidelity is ignoring the loss transactions entirely - as if they didn't happen. I think they have to report all transactions and show the losses as short-term capital losses.
    – sam
    Feb 16 at 16:59

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