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An OID is an "original issued discount" given out by the IRS for a number of reasons.

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16y ago

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Who may file Form 1099-A Accept for Value Returned for Value and Copy A Form 1099-OID?

Form 1099-A is Acquisition or Abandonment of Secured Property. Generally, Form 1099-A must be filed by any person or entity who lends money in connection with their trade or business and, to satisfy partially or fully that debt, gains an interest in property that's secured for that debt or knows that the secured property has been abandoned. The person or entity doesn't need to be in the business of lending money to be required to file Form 1099-A.Form 1099-OID is Original Issue Discount. OID is the excess of redemption price at maturity over the issue price. OID is taxable and must be included in the recipient's income each year. Form 1099-OID is filed by the payer if the OID is at least $10. Payers include a broker or other middleman with an OID obligation (including CDs) as nominee for the actual owner. Also, a financial institution offering time deposits or bonus-savings plans with OID and one-year terms needs to file Form 1099-OID if the OID is at least $10. Copy A of Form 1099-A and Form 1099-OID must be filed by the lender/payer with the IRS by March 1. If filing electronically, then the due date is extended to March 31.