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Get your taxes done using TurboTax
They are two seperate amounts. The interest from an OID is the amount you received as a discount when you purchase a bond or a note. The discount is taxable interest over the life of the bond even if you don't actually receive any interest.
You want to make sure you enter in the OID interest correctly. See HERE. This amount will come from Box 1 of your 1099OID
The amount you enter from a 1099INT gets entered seperately as follows See HERE. This amount will come from Box 3 of your 1099INT.
Two seperate forms, two seperate amounts. Both are taxed at the federal level but are exempt from NYS tax liability.
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‎January 30, 2024
8:16 AM