In 2014 I purchased an OID bond. The bond had an interest rate of 2.5% and was a 5 year bond. From 2014 to 2019 I have received 1099-OID forms, which I entered in TurboTax when I did my taxes. In 2019 the bond matured and I received both a 1099-OID and a 1099-B form for the bond (the latter because the bond was purchased during or after 2014). I had assumed that by entering my 1099-OIDs for the last 5 years that the tax on the bond would have been paid prior to maturity, but receipt of the 1099-B reporting net proceeds makes me think otherwise. I think I need to enter both the 1099-OID and 1099-B, but I'm not sure. I guess I am hoping someone can explain what I am missing and how I enter this correctly to ensure I don't over pay the taxes on this bond. Is the 1099-B to pay taxes on the interest earned above and beyond the taxes already paid on the original issue discounted rate? Thanks in advance.
