OID

[nolanm]

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 

[qbteachmt]

"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.

[nolanm]

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 

[qbteachmt]

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:

https://www.investopedia.com/1099-oid-form-understanding-your-1099-oid-form-4782372