Every other entry is zero. I assumed if it's a discount that it would be subtracted from some other income. But no? Is it actual interest income in 2024? The word "discount" threw me off, and I've missed it the prior two years.
Zero-coupon bond bought for 10,000 matures in 5 years for $20,000. The "original issue discount" is $2,000 a year for 5 years. Just for illustration, usually the amount changes every year, but you get the idea.
Zero-coupon bond bought for 10,000 matures in 5 years for $20,000. The "original issue discount" is $2,000 a year for 5 years. Just for illustration, usually the amount changes every year, but you get the idea.
I assume Greta's OID is small potatoes so the IRS hasn't been too interested in those returns. But that leads to a thought I have from time to time. Wouldn't this place be a nice source of leads for eager IRS agents to make their annual quotas? Over the years there have been folks that have liked to share a bit too much as far as how badly they were missing the boat and a lot of those folks liked to use their real names here so they wouldn't be hard to track down. Just a thought for tonight. In case the IRS is looking for me, I won't hide behind Wile E. If they want to find me all they have to do is look me up. My name is R Cooley.
I just looked back at the years I thought I missed, but the interest income WAS reported. I think the layout of the 1099 is different this year that it discombobulated me. Whew.
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