OID Interest

Forum|Forum|6 years ago
April 5, 2020
1 reply
7 views

I had a CD linked to the performance of International Equity Indices (SP 500, Euro Stoxx and FTSE 100) that matured in 2019. The 1099's through out the years reported OID interest that I reported as interest income every year. This CD ended up making money and the 1099 that I received reported this as a capital gain. However, none of the oid interest was deducted from the gain. Is this correct?

Best answer by JohnW152

You’d have to contact the payer to ask about that. There must be a specific reason, but speculating blindly could do as much harm as good.

RobertG

Level 12

The OID interest that you reported should be added to your basis in the CD.

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elksAuthor

Level 2

Thanks, but I have to wonder why the payer producing the 1099 did not report this on the 1099. They did on one where the performance was based on a basket of 10 individual stocks?