I have almost 50 municipal bonds held at separate brokerages which result in OIDs. Except for a few, the amount to be reported is 0. It is time-consuming to have to prepare each of these forms.
As I begin this year's TT, I am greeted with a list of all the information included in last year's taxes. I am wondering whether I can omit all the OIDs from this list? I could then enter as new information only those OIDs which have an actual amount to report?
This would seem logical in that there is no requirement to report non-income to the IRS.
