Learn More About Form 1099-OID
What is a 1099-OID?
Form 1099-OID is used to report original issue discount. OID is the excess of an obligation's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon).
Why do I file 1099-OID?
The IRS requires that all income and deductible expenses are reported by businesses and individuals or penalties could apply.
Who needs to file 1099-OID?
You must prepare a Form 1099-OID for each person who is a holder of record of the obligation if the OID includible in the holder's gross income is at least $10. See the official IRS instructions.
When do I file 1099-OID?
1099-OID forms are required to be mailed to the recipient by January 31, 2017 and e-filed with the IRS by March 31, 2017.
1099-OID Reporting Information
|What to report||Amount to report|
|Original issue discount.||$10 or more|