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Entering Form 1099-OID in ProSeries

by Intuit Updated 1 month ago

Generally information from Form 1099-OID is entered on the Schedule B, Additional Interest Information Worksheet.

To enter the 1099-OID on the Schedule B:

  1. Open the tax return.
  2. Press F6 to bring up Open Forms.
  3. Type B and select OK to open the Schedule B.
  4. Scroll to the Interest Income Smart Worksheet.
  5. Enter the Payer's Name.
  6. Enter any amounts from box 1, box 2, box 3, box 8 and box 9 directly on the Interest Income Smart Worksheet.
  7. Double-click on the payers name to access the Interest Income Worksheet.
  8. Scroll down to section E Adjustment Information.
  9. In the 1099-OID Box 6 and Box 10 Information for State eFiled Tax Returns enter any amounts from boxes 6 and 10.
  10. In section E, line 1 enter code O for type of adjustment.
  11. Enter any needed adjustments on line 2.
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