1099-OID

(redirected from Forms 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 indictment further alleges that Cao corruptly obstructed the administration of the federal tax laws, by, among other things, filing retaliatory false liens against IRS employees, filing and attempting to file with the IRS false Forms 1099-OID (Original Issue Discount) that claimed fictitious income tax withholdings, filing and attempting to file false tax returns that claim fraudulent refunds totaling approximately $20 billion, and preparing at least five false tax returns for third parties that claimed fraudulent income tax refunds totaling in excess of $1.
The issuers of tax-exempt bonds are not required to issue Forms 1099-OID.
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.