1040-US: Form 1099-OID data entry

Alerts and notices

You can enter this form information using the UltraTax CS Source Data Entry utility. Otherwise, use the table below to enter form information on the appropriate input screens.

Form field Folder > Screen Field Statement column
Payer’s Name Income > B&D Interest Income Payer
Recipient’s TIN Income > B&D Interest Income T S J
Box 1 - Original issue discount Income > B&D Interest Income Interest income
Box 2 - Other periodic interest Income > B&D Interest Income Interest income
Box 3 - Early withdrawal penalty Income > B&D Interest Income Early W/D penalty
Box 4 - Federal income tax withheld Income > B&D Interest Income Fed W/H
Box 5 - Market discount Income > B&D Interest Income Interest Income
Box 6 - Acquisition premium Income > B&D Interest Income Interest Income, Type code = 5
Box 8 - Original issue discount on U.S. Treasury obligations Income > B&D Interest Income Interest income, US OB% = 100%
Box 9 - Investment expenses Income > B&D Interest Income Inv Exp
Box 10 - Bond premium Income > B&D Interest Income Interest Income, Type code = 6
Box 11 - Tax-exempt OID Income > B&D Interest Income Tax Exempt
Box 12 - State Income > B&D State

State

Box 13 - State identification no. Income > B&D Interest Income

State ID No.

Box 14 - State tax withheld Income > B&D 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 Interest income field, and enter the dollar amount from box 8 in the US Ob ($ or %) field.
  • If no amount is reported in box 8, enter the amount from box 2 in the Interest income 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 B&D 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.