OID Interest

3 replies
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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?

JohnW152Answer

Alumni - Intuit

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

Alumni - Intuit

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?