Form 1099-Oid - Original Issue Discount - 2017 (Page 7 of 9) in pdf

Instructions for Recipient (Continued)

Box 10. For a taxable covered security, including a Treasury inflation-protected

Box 6. For a taxable covered security, shows the amount of acquisition

security, shows the amount of premium amortization allocable to the interest

premium amortization for the year that reduces the amount of OID that is

payment(s), unless you notified the payer in writing in accordance with

included as interest on your income tax return. If an amount is reported in this

Regulations section 1.6045-1(n)(5) that you did not want to amortize bond

box, see the instructions for Form 1040 (Schedule B). If an amount is not

premium under section 171. If an amount is reported in this box, see the

reported in this box for a covered security acquired with acquisition premium,

instructions for Form 1040 (Schedule B). If an amount is not reported in this box

the payer has reported a net amount of OID that reflects the offset of OID that is

for a taxable covered security acquired at a premium and the payer is reporting

included in income. If the payer has reported a net amount of OID in box 1 or

premium amortization, the payer has reported a net amount of interest in box 2.

box 8, you must report the net amount of OID on Form 1040 (Schedule B) and

If the amount in this box is greater than the amount of interest paid on the

you must not make an adjustment to this amount for acquisition premium on

covered security, see Regulations section 1.171-2(a)(4).

Form 1040 (Schedule B).

If there is an amount in both boxes 10 and 11, for a tax-exempt obligation that

If there is an amount in both boxes 6 and 11, for a tax-exempt obligation that

is a covered security acquired on or after January 1, 2017, and issued with OID,

the amount in box 10 shows the amount of premium amortization for the year

the amount in box 6 shows the amount of acquisition premium amortization for

that reduces the amount of your tax-exempt interest for the year. The payer

the year that reduces the amount of your tax-exempt OID for the year. The payer

may, but is not required to, report the premium amortization for a tax-exempt

may, but is not required to, report the acquisition premium for a tax-exempt

obligation that is a covered security acquired before January 1, 2017, and

issued with OID.

issued with OID. See the instructions above for a covered security acquired with

acquisition premium.

Box 11. For a tax-exempt obligation that is a covered security acquired on or

after January 1, 2017, shows the tax-exempt OID on the obligation for the part

Box 7. Shows the identification (CUSIP) number or description of the obligation

of the year you owned it. The payer may, but is not required to, report the OID

(may include the stock exchange, issuer, coupon rate, and year of maturity).

for a tax-exempt obligation that is a covered security acquired before January 1,

Box 8. Shows OID on a U.S. Treasury obligation for the part of the year you

2017. In general, report the amount of tax-exempt OID in box 11 on line 8b on

owned it. Report this amount as interest income on your federal income tax

Form 1040. See the instructions above for a covered security acquired with

return, and see Pub. 1212 to figure any appropriate adjustments to this amount.

acquisition premium.

This OID is exempt from state and local income taxes and is not included in

Boxes 12–14. State income tax withheld reporting.

box 1. See the instructions above for a covered security acquired with

acquisition premium. If the number in this box is negative, it represents a

Future developments. For the latest information about developments related to

deflation adjustment. See Pub. 550 for further information on accounting for this

Form 1099-OID and its instructions, such as legislation enacted after they were

adjustment.

published, go to

Box 9. Any amount shown is your share of investment expenses of a single-

class REMIC. If you file Form 1040, you may deduct these expenses on the

“Other expenses” line of Schedule A (Form 1040) subject to the 2% limit. This

amount is included in box 2.

Form 1099-Oid - Original Issue Discount - 2017 Page 7

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