Yes, this is taxable income. It needs to be reported as taxable income in your return. You need to review your 1099 OID..
- Open your Turbo Tax return
- Click on this 1099-OID
- This will take to a miscellaneous investment screen. Check Form 1099 OID
- The next screen Should show your 1099 OID summary.
- Select the pencil icon to edit the form
- Enter the $952 in Box 1 if there is no amount there.
- Finish out the section.
If working in Turbo Tax Desktop:
- Open return
- Go to federal income
- Interest and Dividends
- 1099 OID-Foreign Accounts
- Once the 1099 OID appears, you will need to perform steps 6 and 7 listed above.
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