How Do You Fill Out IRS Form 1099-OID?
IRS Form 1099-OID, titled “Original Issue Discount,” is sent to those taxpayers who received an excess of an obligation’s stated redemption price at maturity over its issue price; examples include bonds, debentures, notes, certificates or other debts having a term greater than one year. This article is written from the point of view of the entity filling out the 1099-OID, not the person receiving it. Call (800) TAX-FORM or visit the IRS online form ordering website (see resources below) to obtain acceptable copies of Form 1099-OID to send to recipients. Although Form 1099-OID is available for viewing online, the e-version of the form is unacceptable to send to taxpayers or the Internal Revenue Service. Check the “Void” or “Corrected” box at the top of the 1099 form if applicable. Enter the Payer’s name, street address, city, state, ZIP code and telephone number in the first box. The Payer is the organization or entity that paid the original issue discount (OID) money. Enter the Payer’s
