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 ?
At year end I received a tax statement including capital gains details and Forms 1099-INT, Interest Income, and 1099-OID, Original Issue Discount.
citizens and that taxpayers can gain access to the accounts by issuing 1099-OID forms to the IRS.
REMICs consequently provide regular interest holders with IRS Form 1099-INT (and Form 1099-OID, if applicable).
The IRS will forward the information provided on the following forms to FTB:1099-B, 1099-DIV, 1099-G, 1099-INT, 1099-K, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, 5498.
The system prints and electronically reports 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-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.
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.
Barel's technique involved collecting information about her customers' debts--credit cards, car notes, mortgages, etc.--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.
Banks and other financial institutions must supply their depositors who earn original issue discount with a statement (Form 1099-OID) setting forth the amount of original issue discount deemed to have been received during the year.
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.
382 limitation and to assess deductibility of interest and financing cost (and interaction with net operating losses) and retirement of old debt, as well as future compliance filing requirements, such as Forms 1099-INT, Interest Income, and 1099-OID, Original Issue Discount.
Marty and Harris recruited clients by falsely representing that the clients could legally receive sizable tax refunds by filing tax returns with IRS Forms 1099-OID. AFS prepared false Forms 1099-OID that reported an amount equal to the clients debts as income and the same amount as income tax withheld, resulting in significant income tax refunds to which the clients were not entitled.
The perpetrator files a fake Form 1099-OID to justify a false refund claim on a corresponding tax return.