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The 1099-INT and 1099-OID serve different functions in tax reporting. The 1099-INT reports interest income earned, while the 1099-OID reports original issue discounts on bonds or notes. The IRS Instruction 1099-INT & 1099-OID helps clarify these distinctions, and knowing the difference ensures you report your income correctly. If you require assistance navigating these forms, uslegalforms can provide valuable support.
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