nolanm
Level 4
03-18-2021
11:59 AM
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Hi - I have a Merrill 1099
1st page 1099-Int has $1000 in box 1 nothing else. Zero in Box 8.
Further down in the form has a box for 1099-OID. This shows $3,100 in line 1. No acquisition discounts or premiums. Below it total OID still $3,100
The notes in the statement say that the OID in Line 1 is taxable, unless adjustments (which I don't see any)
Is the correct approach to add the $3,100 to the $1000. And show $4,100 as the total in Box 1 Schedule B in Interest Inc/OID int ?
Thanks for input
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