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Level 1
posted Feb 28, 2021 1:52:08 PM

1099-OID Security purchased prior to January 1, 2017

I received a 1099-OID where box 11 is blank, but next to box 11 is a column "Tax Exempt Original Issue Discount" with a dollar amount.  In the footnotes,  it states this security was purchased before January 1, 2017 and the dollar amount is not being reported to the IRS.  I have the same situation for Box 6 Acquisition Premium.  Does this mean I do not need to report these numbers anywhere on my tax return?

 

 

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1 Replies
Level 1
Feb 28, 2021 3:32:48 PM

You don't have to report your tax-exempt discount.  According to the IRS rules, you only have to report interest that is taxable OID in box 1 or 8 of Form 1099-OID.

 

You can learn more about the reporting requirements here:

 

1099-OID