Contents -

Form 1099-OID

NOTE

ANY INSTRUCTIONS CONTAINED HEREIN ARE ADVISORY ONLY.

REFER TO IRS INSTRUCTIONS FOR OFFICIAL INFORMATION.



Form 1099-OID - Original Issue Discount

Original issue discount includible in the gross income.  Original issue discount means the difference between the stated redemption price at maturity and the issue price of a debt instrument.

Account number (Required)
Enter any number assigned by the payer to the payee that can be used by the IRS to distinguish between information returns.  This number must be unique for each information return.  The account number is critical in the correction process, especially when more than one information return is filed for a payee.  MAG-FILER will automatically assign an account number if the field is blank.

TIN # (Required)
Enter the payee's valid 9-digit Taxpayer Identification Number (SSN or EIN, as appropriate).  Leave this field blank if the TIN# is unknown.   Any form filed containing an invalid identification number in this entry may be returned for correction.

SSN  (else EIN) (Required)
Check this box if the payee TIN # is a Social Security Number (SSN) of an individual.  Leave this box blank if the payee TIN # is an Employer Identification Number (EIN) of a business or an organization.

NOTE: Imbedded blanks, extraneous words, titles, and special characters ( i.e., Mr., Mrs., Dr., period [.], apostrophe [ ' ] should be removed from Payee Name Lines.  An ampersand (&) and a dash (- ) are the only acceptable special characters.  A comma ( , ) between last name and first name that is placed by MAG-FILER is also acceptable.

Name (Required)
Enter the name of the recipient belonging to the Taxpayer Identification Number (TIN).  If the TIN, is an SSN, enter as last name suffix, first, middle initial, e.g., Doe Jr., John A.).  If the TIN is an EIN, the name is entered as is.  Use the Second Name Field if additional space is required.

Second Name Field
If the payee name requires more space than is available in the name field, ENTER ONLY THE REMAINING PORTION OF THE NAME IN THIS ENTRY.  If there are multiple payees, this field may be used for those payees' names.  DO NOT USE THIS FIELD FOR ADDRESS INFORMATION. 

Address (Required)
Enter the payee's mailing address.  The address MUST be present.  This entry must not contain any data other than the payee's mailing address.

City (Required)
Enter the payee's city.   Do not enter state and zip code information in this entry.

State (Required)
Enter the abbreviation for the payee's state or foreign country.  You must use valid U.S. Postal Service state abbreviations for U.S. addresses.

Zip (Required)
Enter the payee's valid 9-digit zip code assigned by the U.S. Postal Service.

Original Issue Discount for 2007:  
Report the OID on the obligation for the part of the year it was owned by the record holder.  Do not include the amount of OID on U.S. Treasury Obligations.  Any interest other than OID paid or credited on this obligation during the year.

Other Periodic Interest
Any stated interest (that is not OID) paid or credited on this obligation during the year.

Early Withdrawal Penalty:
Amounts of interest or principal forfeited because of an early withdrawal that are deductible from gross income by the recipient.

Fed Income Tax Withheld:
Amounts for backup withholding.

Original Issue Discount on U.S. Treasury Obligations:
The amount of OID on a U.S. Treasury obligation for the part of the year it was owned by the record holder.

Investment Expenses:
The amount of your share of investment expenses of a single-class REMIC.

Description: (Required) 
Enter the CUSIP#, if there isn't any CUSIP# enter the abbrev. for stock exchange, the abbrev. for issuer, the coupon rate and the year of maturity.  See the FORM 1099-OID INSTRUCTIONS PUBLICATION for more details.

Special
This area may be used to record information for state or local government reporting or for the filer's own purposes. Enter "CFS" and state abbreviation if the working state is different from the residence for combined Federal/State filing.

2nd TIN Notice
Check the 2nd TIN notice box if notified twice by the IRS within 3 calendar years that the payee provided an incorrect taxpayer identification number (TIN).

Select Print
Check this box to select specific payees for printing.

Corrected Return
Check this box if this entry is a corrected return.  This is only used IF YOU HAVE ALREADY SUBMITTED MAGNETIC MEDIA FILING and wish to print or file corrected returns.  NOTE: The same account number reported on the original must also be on the corrected record.