IRS Releases 2018 Form 1099-OID, Form 1099-INT, and Accompanying Instructions

October 25, 2017 Adam Rivera

The IRS has released the 2018 revisions of Form 1099-OID, Form 1099-INT, and Instructions for Forms 1099-OID and 1099-INT. Below you’ll find the changes present in each form and the associated instructions.


Form 1099-OID

  • “PAYER’S federal identification number” and “RECIPIENT’S identification number” is now “PAYER’S TIN” and “RECIPIENT’S TIN”


Form 1099-INT

  • “PAYER’S federal identification number” and “RECIPIENT’S identification number” is now “PAYER’S TIN” and “RECIPIENT’S TIN”
  • More clarity has been provided for several instructions:
    • “If the amount in box 11 is greater than the amount of interest paid on the covered security, see Regulations section 1.171-2(a)(4).”
    • “If the amount in box 12 is greater than the amount of interest paid on the U.S. Treasury obligation, see Regulations section 1.171-2(a)(4).”
    • “If the amount in box 13 is greater than the amount of interest paid on the taxexempt covered security, the excess is a nondeductible loss. See Regulations section 1.171-2(a)(4)(ii).”

Instructions for Forms 1099-OID and Form 1099-INT

  • New instructions:
    • For a specified private activity bond with OID, report the tax-exempt OID in box 11 on Form 1099-OID and the tax-exempt stated interest in boxes 8 and 9 on Form 1099-INT.
    • If you are reporting qualified stated interest and OID on any obligation that is not a specified private activity bond, you may report both the qualified stated interest and the OID on Form 1099-OID.

About the Author

Adam Rivera is a member of the Regulatory Analysis Team's Direct Tax division at Sovos. His main areas of focus are Federal and State Tax Withholding and Affordable Care Act (ACA) Reporting. Prior to Sovos, Adam worked as a legislative aide in the Florida House of Representatives. He also has experience in securities law, focusing on securities litigation and researching emerging crowdfunding methods of raising capital. Adam is a member of both the Massachusetts and Florida Bars. He earned his B.A. from the University of Florida and his J.D. from the University of Miami.

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