Tbills interest
Hi Terry,
I’m looking at my Treasury Direct 1099 and the reportable proceeds on each transaction throughout the year are higher than the amount deposited back into my bank account. I’m trying to understand why this is and haven’t been able to figure it out. Do you know what this would be?
Terry Says
When you purchase T-bills, the amount of the interest is left in your account– not “deposited” there. So every time you roll over into a new T-bill, you’d need to subtract the amount withdrawn from the principal value to get your interest. OR, just believe the figures on your 1099 — remembering that if a T-billdidn’t mature in 2024 the interest will be reported for 2025.
