1099-OID

1099-OID

A form that an issuer sends to all investors listing all income from interest on discount issues. This includes income from zero-coupon bonds, Treasury bills, and other securities issued at a discount from par. Investors are to include this income when calculating their taxable income.

1099-OID

An annual report sent to investors and the Internal Revenue Service that lists interest income from taxable original-issue discount securities. The form, which originated during the 1984 tax year, reports the amount of implied and real income derived from original-issue discount securities such as Treasury bills, zero-coupon bonds, and commercial paper. Income shown on a 1099-OID is to be included on Part I in Schedule D of an investor's federal income tax return.
References in periodicals archive ?
The IRS notes that this latter assumption is at odds with reporting requirements of Form 1099INT, Interest Income, and Form 1099-OID, Original Issue Discount, and that the customer is not bound by the assumptions that the broker uses to satisfy the reporting requirements.
The system prints and electronically reports 1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, 1099-S, 1099-SA, 3921, 3922, 5498, 5498-ESA, 5498-SA, W-2G and optionally 1042-S forms.
and then reporting those outstanding debts as Form 1099-OID deductions, making it look like the entire amount of the debt was withheld as taxes.
Payments of interest and dividends (reported on IRS Forms 1099-INT, 1099-DIV, 1099-OID and 1099-PATR).
The primary purpose of the publication is to help brokers and other middlemen identify publicly offered OID debt instruments, which they hold as nominees for the true owners, so they can comply with their responsibility to file Forms 1099-OID and Forms 1099-INT.
1099 Pro software provides preparation assistance for all informational forms required by the IRS including, 1098-MORT, 1099-A, 1099-B, 1099-C, 1099-DIV, 1099-E, 1099-G, 1099-INT, 1099-LTC, 1099-MISC, 1099-MSA, 1099-OID, 1099-PATR, 1099-R, 1099-S, 1099-T, 5498, 5498-MSA, and W2-G.
W2 Mate 2013 supports electronic delivery of the following forms: 1099-MISC, 1099-K, 1099-INT, 1099-DIV, 1099-R, W-2, W-3, 1096, 1099-S, 1098-T, 1098, 1099-A, 1099-B, 1099-C, 1099-PATR and 1099-OID.
AADM supports the entire family of Information Returns (1097-BTC, 1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-K, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-Q, 1099-R, 1099-S, 1099-SA, 3921, 3922, 5498, 5498-ESA, 5498-SA, W2G) and Annual Wage Reports (W2, W2C).
The pilot TIN Matching Program will include Forms 1099-INT, 1099-DIV, 1099-OID, 1099-PATR, 1099-B and 1099-MISC and will be limited to 1,000 participants.
The tax software supports more than 14 types of IRS 1099 forms including W-2, 1099-K, 1099-MISC, 1099-INT, 1099-DIV, 1099-R, W-3, 1096, 1099-S, 1098-T, 1098, 1099-A, 1099-B, 1099-C, 1099-PATR and 1099-OID.
The standard version prints and electronically reports 1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, 1099-S, 1099-SA, 3921, 3922, 5498, 5498-ESA, 5498-SA, 8935 and W-2G.
The issuer of a taxable bond with OID is required to issue Form 1099-OID to report the discount to be included as ordinary income on the taxpayer's current-year income tax return.