1041-US: Form 1099-OID data entry

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Use the table below to enter form information on the appropriate input screens.

Form field Folder > Screen Field Statement column
Payer’s Name Income > Income Interest Income Payer
Box 1 - Original issue discount Income > Income Interest Income Taxable Interest
Box 2 - Other periodic interest Income > Income Interest Income Taxable Interest
Box 3 - Early withdrawal penalty Income > Income Interest Income Early W/D penalty
Box 4 - Federal income tax withheld Income > Income Interest Income Fed W/H
Box 5 - Market discount Income > Income Interest Income Taxable Interest
Box 6 - Acquisition premium Income > Income Interest Income Taxable Interest, Type code = 5
Box 8 - Original issue discount on U.S. Treasury obligations Income > Income Interest Income Taxable Interest, US OB% = 100%
Box 10 - Bond premium Income > Income Interest Income Taxable Interest, Type code = 6
Box 11 - Tax-exempt OID Income > Income Interest Income Total Tax Exempt
Box 12 - State Income > Income State

Postal Code
Box 14 - State tax withheld Income > Income Interest Income

State W/H

Notes

  • If an amount is reported in both boxes 2 and 8, the amount in box 2 is interest on a U.S. Treasury obligation and is exempt from state and local income taxes. Enter the amount from box 2 in the Taxable Interest field, and enter the dollar amount from box 8 in the US Govt Oblig ($ or %) field.
  • If no amount is reported in box 8, enter the amount from box 2 in the Taxable Interest field. 
  • If you disposed of the obligation or acquired it form another holder during the year, refer to IRS Publication 550 for reporting instructions.
  • If the OID to be reported is less than the amount shown on Form 1099-OID, enter an adjustment in the Interest income statement dialog (on Screen Income in the Income folder). In the Type code column, select code 5 for Original Issue Discount (OID) adjustment and enter the adjustment in the Interest income column.
  • To access the columns for foreign amounts, click the Show foreign columns Show foreign columns button.

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