Scenario: I purchase a $1000 bond for $800. Three months later, I sell it for $900. Now I know I'm on the hook for $100 in short term cap gains, but what is the de minimus situation? Do I owe 25% of a year's de minimus tax? Do I owe nothing? Do I owe the full de minimus for the year? Do I owe the full de minimus for the whole difference between the original purchase and the face value? My intuition is that I'd owe nothing because I didn't actually see any of the $800-$1000 ($200) profit I'd have realized at maturity (well I did, but that was short term cap gain that I've already paid tax on), but that would be too convenient, wouldn't it. ;)
