Get IRS 1099-OID 2014

In general, report the amount of tax-exempt OID on Form 1040.

Generally this is reported as tax-exempt interest on the tax return on Form 1040, Line 8b. However, in certain cases a portion of this amount may be considered taxable.

Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. Form 1040 or Form 1040A required. You must use Form 1040 or Form 1040A (you cannot use Form 1040EZ) under either of the following conditions.

For taxable OID bonds, accrued OID must be recognized annually as taxable interest income. For tax-exempt municipal OID bonds, this income is not subject to the ordinary income tax, although it is required to be reported for informational purposes in the same manner as other tax-exempt bond interest.

Original issue discount (OID) is a form of interest. ... For bonds issued after 1984, the OID is treated as interest. It's taxable as it accrues over the term of the bond. You also get to increase your basis in the bond by the amount of OID included in income.

Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. Form 1040 or Form 1040A required.

How To Report OID. Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. Form 1040 or Form 1040A required. You must use Form 1040 or Form 1040A (you cannot use Form 1040EZ) under either of the following conditions.

Tax-Exempt Original Issue Discount OID is interest, and you must include it when you report taxable and tax-exempt interest income on Form 1040. Taxable OID, tax-exempt OID and bond premium are reported on Form 1099-OID.

The payer may, but is not required to, report the OID for a tax-exempt obligation that is a covered security acquired before January 1, 2017. In general, report the amount of tax-exempt OID on Form 1040.

In general, report the amount of tax-exempt OID on Form 1040.

It usually occurs when companies issue bonds at a price less than their redemption value at maturity. ... For bonds issued after 1984, the OID is treated as interest. It's taxable as it accrues over the term of the bond. You also get to increase your basis in the bond by the amount of OID included in income.

Original issue discount (OID) is a form of interest on a debt instrument such as a bond or note issued at less than its face amount. The discount is considered additional interest income. A debt instrument generally has OID when the instrument is issued for a price less than its stated redemption price at maturity.

For taxable OID bonds, accrued OID must be recognized annually as taxable interest income. For tax-exempt municipal OID bonds, this income is not subject to the ordinary income tax, although it is required to be reported for informational purposes in the same manner as other tax-exempt bond interest.

You must report all taxable and tax-exempt interest on your federal income tax return, even if you don't receive a Form 1099-INT or Form 1099-OID. ... See the paragraph below with respect to original issue discount (OID), which is treated as interest for federal tax purposes.

In general, report the amount of tax-exempt OID on Form 1040.