OID

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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Level 15

"Hi - I have a Merrill 1099"

Read it again. I think you have a Consolidated 1099. That means each type of 1099 (int, oid, b, div) is separate on this same Paper/PDF.

You don't combine 1099 types. They still are treated as separate forms: Int and DIV and OID and B. You just have the same Issuer.

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Level 5

It is titled "2020 tax Reporting Statement'

Page 3 is Form 1099-Div and 1099-Int. That's fine. Box by box

Page 7 is Titled Form 1099-OID. Line 1 shows the 1099-OID amount of $3,100

So I enter the $3,100 into Box 1 Interest Inc, OID - just as a separate Merrill entry?

And am I correct to assume that is taxable? Following the notes in the document and no adjustments?

Thanks NM

Level 15

Treat them as if they arrived separately, because it is the same concept. Each meets a different investment tracking and reporting requirement.

You can always read the iRS instructions for the various forms.

And use the web:

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