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Instructions for Forms 1099-INT and 1099-OID (Rev January 2024) Instructions for Forms 1099-INT and  Preview on Page 1

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If your debt instrument is a covered security under Regulations section 1.6045-1(a)(15), market discount, acquisition premium, or premium is reported in box 5, 6, or 10 of Form 1099-OID, respectively. The following rules generally do not apply to contingent payment debt instruments.
The 1099-INT is an interest statement, and the 1099-DIV is a dividend statement. These are both reported on the Schedule B.
In general, your tax-exempt stated interest should be shown in box 8 of Form 1099-INT or, for a tax-exempt OID bond, in box 2 of Form 1099-OID, and your tax-exempt OID should be shown in box 11 of Form 1099-OID. Enter the total on line 2a of your Form 1040 or 1040-SR.
I received a Form 1099-INT after I filed my return. What do I do? If you received a Form 1099-INT after filing your return, you should file an amended federal and State return.
Bond premium refers to purchasing a bond above par (face) value. For taxable bonds, bond premium can potentially represent a reduction to yearly income. Acquisition premium generally applies to zero coupon bonds, but can also apply to coupon paying bonds issued at a discount.
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If the investor chooses to amortize the bond premium, it is done by reporting the amortized premium on the tax return for the first year this election applies. This amount is shown as a negative amount on Schedule B of the tax return and is netted against any other interest income realized during the year.
Sign into your TurboTax account. Open or continue your return and then search for this exact phrase (we recommend you copy/paste from here): 1099-oid original issue discount. Select the Jump to link from the results list. On the Miscellaneous Investment Income screen, select the first box for Form 1099-OID.

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