Form 1099-OID

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Form 1099-OID Page 1
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Updated Jan 22, 2025
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An IRS form 1099-OID is used to report original issue discount (OID) income, typically associated with bonds, notes, or other financial instruments issued below face value. This form is provided by financial institutions or entities to individuals or organizations who have earned OID income. Download the form 1099-OID in PDF format and confidently complete it using the guidelines provided below.
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Document Types
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Form 1099-A
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Form 1099-B
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Form 1099-C
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Form 1099-DIV
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Form 1099-G
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Form 1099-H
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Form 1099-INT
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Form 1099-K
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Form 1099-LS
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Form 1099-LTC
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Form 1099-MISC
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Form 1099-NEC
This form reports payments to independent contractors or self-employed individuals.
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Form 1099-PATR
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Form 1099-Q
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Form 1099-QA
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Form 1099-R
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Form 1099-S
This form is used to report real estate transaction proceeds.
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Form 1099-SA
This form is used to report distributions from health or medical savings accounts.
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Form 1099-SB
This form is used to report life insurance policy transfers to the IRS and recipients.
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1099-oid

A form 1099 OID reports the Original Issue Discount. This is the difference between a bond's face value and what it was initially sold for. The IRS treats this discount as interest income for taxes.

What Is a Form 1099-OID?

The 1099-OID form is for investments, such as bonds, sold at a discount to their face value. Investors receive the 1099 OID PDF to report the accrued interest income when these bonds mature at face value. The deadline to send the 1099-OID form is January 31st. 

Parties

Several key parties are involved in the 1099 OID process:

  1. Issuer. The entity that initially issues the bond or debt instrument.

  2. Holder. The investor or recipient who owns the investment.

  3. IRS. The Internal Revenue Service, which requires the filing, can request an OID 1099 for verification.

Key Terms

To better understand the 1099 OID meaning, familiarize yourself with these terms:

  • Original Issue Discount (OID). The difference between what you paid for a bond and its value when it matures.
  • Zero-Coupon Bond. Debt security sold at a considerable discount rather than paying interest gives you a profit when it matures.
  • Accrued Interest. The interest accrued on an investment that remains unpaid. 

Steps After Receiving a Form 1099-OID

Further steps after receiving a form 1099-OID involve:

  1. Review the 1099-OID Example. Ensure all details are accurate and reflect your accounting records.
  2. Check the 1099 OID Instructions. Follow the instructions to ensure correct filing.
  3. Report the Income. Include the form 1099 OID income on your tax return like any other taxable income.
  4. Retain Records. Keep a copy of the 1099 OID form PDF for future reference and any possible audits.

For those who seek additional assistance when dealing with complicated tax matters, Lawrina offers a PDF tool for filling out the IRS form 1099 OID and can further ease the process by providing helpful resources and guidelines.