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jbs6
New Member

original issue discount on us 'treasury obligations

When I enter the old on Treasury obligations the total shows zero. Do I have to enter the same amount in the original discount box?
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2 Replies
DaveF1006
Employee Tax Expert

original issue discount on us 'treasury obligations

No, you should not enter the same amount in both Box 1 and Box 8. Box 8 is for US Treasury OID. This way, the software knows to make it tax-free on your federal income tax return but tax-free on your state income tax return.

 

You should enter the amount in Box 8 and leave Box 1 blank.

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original issue discount on us 'treasury obligations

the summary totals for OID don't include the other boxes.  enter 1099 boxes as reported and you can check the OID is included in the totals on your Schedule B / 1040 Line 2b.

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