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Could anyone direct me to the location where I would enter an Original Issue Discount (Non-US Treasury Obligations--I really need specifics because I have no idea what I am looking at or for. Thank you for any help.
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Since you say you are ProSeries Professional user... go to Schedule B... the top part "Interest Income Smart Worksheet" Box 1.. has "OID INT*" look at the bottom of that smart worksheet beside the "*", see if that helps you.
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included in Box 1 on Interest Income Smart Worksheet, as part of regular interest income.
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Oh my gosh you all!!! is it that simple--I have never noticed that it says OID in that interest worksheet--thank you for the eye opening revelation everyone!
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I am using the IRS Transcripts for tax year 2019 and there is a 1099 OID form for original discount of $512. Based on my research, I understand that this goes in the schedule B in proseries as interest. My question is: "what interest type do I select"? Does anyone have any feedback that could help me.
I would very much appreciate it.
Thank You
Jesus Soto