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Level 2
posted Feb 1, 2023 1:49:21 PM

TreasuryDirect issued me 1099-B and 1099-OID that say "No Reportable Transactions". Do these two forms need to be included on my return?

I received 1099-B and 1099-OID along with 1099-INT from TreasuryDirect.  On 1099-B and 1099-OID, it says "No Reportable Transactions".  Tax program doesn't even allow e-filing to IRS with zero dollar for 1099-ID.  However, tax program will allow adding 1099-B with no sale of bonds, or Treasury Securities listed.   It doesn't cause error after adding 1099-B with no sale of anything.  Should I just report this blank 1099-B, and not report 1099-OID?  When TreasuryDirect put "No Reportable Transactions", do I need to worry about reporting them?   If they put "No Reportable Transactions", wouldn't IRS computer know to not expect 1099-B and 1099-OID on my return?  Anyone know?  Thank you.

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1 Replies
Expert Alumni
Feb 1, 2023 2:15:32 PM

If there is no reportable transactions, then you DO NOT report the forms 1099-B and 1099-OID on your tax return.