TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 5

Solved

Corrected Brokerage Statement on OID

1 reply
36 views

I just received a Corrected Tax Info Statement from my broker - I've already filed - listing a negative $XXX of OID on a US Treasury Bond which they say is a "Deflation Adjustment" and "may not be the correct number to report on your income tax return." It was not reported to the IRS and doesn't show up on OID summary page. At best, I am confused. Advice? Do I need to include it? File an amended return? Thanks.

Not A Product Question

DanielV01Answer

Alumni - Intuit

If it is a corrected statement, there is probably no need to amend to report this. If there were something that had a tax implication, then you would receive a corrected tax form, which would either be a 1099-OID or maybe a 1099-INT. But if you don't receive an actual tax form, there's likely nothing to amend for the tax return. Just keep it with your records.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

DanielV01Answer

Alumni - Intuit

If it is a corrected statement, there is probably no need to amend to report this. If there were something that had a tax implication, then you would receive a corrected tax form, which would either be a 1099-OID or maybe a 1099-INT. But if you don't receive an actual tax form, there's likely nothing to amend for the tax return. Just keep it with your records.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"