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Dani70
Level 3
03-21-2023
01:47 PM
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On Clients 2022 Consolidated 1099 statement there is information for a 1099-OID. I have never seen this before and need to know if this is something that I need to enter on the 1099-B Work sheet in pro series or if this is just informational. All boxes are 0.00 EXCEPT Box 11 Tax-exempt OID has 10.90.
Please help
Thank you
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sjrcpa
Level 15
03-21-2023
02:10 PM
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It's tax exempt income. Nothing to do with 1099-B.
The more I know the more I don’t know.
qbteachmt
Level 15
03-21-2023
02:46 PM
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Maybe you confused Sched B and 1099-B? Because, yes, it is part of Sched B. Try this article:
You should be seeing more and more of these in consolidated 1099 packages, because of the rates available for government obligations and CDs. Some stuff is Fed taxable and State nontaxable, too, so of course it matters.
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