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Get your taxes done using TurboTax
yes you need to amend to report the OID which is taxable as interest income.
OID arises when you buy debt for less than maturity value
OID increase your basis in the note so that if you hold to maturity there is no capital gain/loss
for more see
https://www.investopedia.com/1099-oid-form-understanding-your-1099-oid-form-4782372
May 6, 2024
12:25 AM