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1099-OID

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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.


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If a payer pays California source income to residents or nonresidents at certain minimum levels as required by the IRS, then California backup withholding is required, except for: * Payments of interest and dividends (reported on IRS Forms 1099-INT, 1099-DIV, 1099-OID and 1099-PATR).
Holders of TIPS generally receive two form 1099s from the Treasury at the end of the year: one form 1099-INT, showing the amount of interest paid to the bondholder, and one form 1099-OID, showing the amount by which the principal balance of the TIPS increased or decreased during the year because of inflation or deflation.
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.
 
 
 
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