most taxpayers don't know this but if you purchased the debt instrument in the secondary market the OID is wrong. The issuer always calculates OID based on the original issuance price, maturity value and time to maturity using the effective interest rate of the discount. It never changes this for purchasers in the secondary market. They're on their own
second for OID you should have gotten a 1099-OID with an amount in box 1 for the OID
box 10 is for Bond premium amortization (BPA) for the year
If you bought the security in the secondary market at a premium you could have received for 2024 the periodic interest payments (1099-int). Then you could offset this by the BPA, limited by REG 1.171(a)(4)
I don't see how you could have both OID and BPA on the same bond. OISD says you paid less than par BPA says you paid more.
Box 10. For a taxable covered security, including a Treasury inflation-protected
security, shows the amount of premium amortization allocable to the interest
payment(s), unless you notified the payer in writing in accordance with
Regulations section 1.6045-1(n)(5) that you did not want to amortize bond
premium under section 171. If an amount is reported in this box, see the
Instructions for Schedule B (Form 1040). If an amount is not reported in this box
for a taxable covered security acquired at a premium and the payer is reporting
premium amortization, the payer has reported a net amount of interest in box 2.
If the amount in this box is greater than the amount of interest paid on the
covered security, see Regulations section 1.171-2(a)(4)
(4) Bond premium in excess of qualified stated interest—(i) Taxable bonds—(A) Bond premium deduction. In the case of a taxable bond, if the bond premium allocable to an accrual period exceeds the qualified stated interest allocable to the accrual period, the excess is treated by the holder as a bond premium deduction under section 171(a)(1) for the accrual period. However, the amount treated as a bond premium deduction is limited to the amount by which the holder's total interest inclusions on the bond in prior accrual periods exceed the total amount treated by the holder as a bond premium deduction on the bond in prior accrual periods. A deduction determined under this paragraph (a)(4)(i)(A) is not subject to section 67 (the 2-percent floor on miscellaneous itemized deductions). See Example 1 of § 1.171-3(e).
(B) Carryforward. If the bond premium allocable to an accrual period exceeds the sum of the qualified stated interest allocable to the accrual period and the amount treated as a deduction for the accrual period under paragraph (a)(4)(i)(A) of this section, the excess is carried forward to the next accrual period and is treated as bond premium allocable to that period.
(C) Carryforward in holder's final accrual period—(1) Bond premium deduction. If there is a bond premium carryforward determined under paragraph (a)(4)(i)(B) of this section as of the end of the holder's accrual period in which the bond is sold, retired, or otherwise disposed of, the holder treats the amount of the carryforward as a bond premium deduction under section 171(a)(1) for the holder's taxable year in which the sale, retirement, or other disposition occurs. For purposes of § 1.1016-5(b), the holder's basis in the bond is reduced by the amount of bond premium allowed as a deduction under this paragraph (a)(4)(i)(C)(1).
(2) Effective/applicability date. Notwithstanding § 1.171-5(a)(1), paragraph (a)(4)(i)(C)(1) of this section applies to a bond acquired on or after January 4, 2013. A taxpayer, however, may rely on paragraph (a)(4)(i)(C)(1) of this section for a bond acquired before that date.
