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dzy
New Member

Tubotax imported a form 1090-OID, it says $952, Tubotas 1099 OID summary says O OID interest but says need review; must I report the $952? if so where?

not foreign money
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1 Reply
DaveF1006
Employee Tax Expert

Tubotax imported a form 1090-OID, it says $952, Tubotas 1099 OID summary says O OID interest but says need review; must I report the $952? if so where?

Yes, this is taxable income. It needs to be reported as taxable income in your return. You need to review your 1099 OID..

 

  1. Open your Turbo Tax return
  2. Click on this 1099-OID
  3. This will take to a miscellaneous investment screen.  Check Form 1099 OID
  4. The next screen Should show your 1099 OID summary. 
  5. Select the pencil icon to edit the form
  6. Enter the $952 in Box 1 if there is no amount there.
  7. Finish out the section.

If working in Turbo Tax Desktop:

 

  1. Open return
  2. Go to federal income
  3. Interest and Dividends
  4. 1099 OID-Foreign Accounts
  5. Once the 1099 OID appears, you will need to perform steps 6 and 7 listed above. 

 

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