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Why is IRS Box 7 missing from TurboTax Online's 1099-OID entry fields? This box contains the Name and CUSIP number of the security in question.

TurboTax's auto import from my brokerage bond account invariably asks me to check the entry for 1099-OID (Original Issue Discount) records. But the TurboTax 1099-OID entry fields omit Box 7 which contains the bond in question's name and CUSIP number. I can guess the bond in question by the dollar amounts in other boxes, but I feel like I'm operating blind.
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1 Reply
DaveF1006
Expert Alumni

Why is IRS Box 7 missing from TurboTax Online's 1099-OID entry fields? This box contains the Name and CUSIP number of the security in question.

It depends. TurboTax Online doesn't include Box 7 for 1099-OID forms. This box is usually for information and isn't needed for tax calculations. TurboTax often focuses on fields that directly impact your tax return. I realize this isn't ideal when you are trying to identify a particular OID to check.

 

The only other alternative is to guess the bond in question, as you suggest by comparing it to the other bonds in question as you suggest.

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