What is IRS Form 1099-OID


IRS Form 1099-OID is used to report acquisition or abandonment of secured property.
Example use: Debtors use this form to report the foreclosure of a property you borrowed money to purchase.

# of forms 1-10 11-100 101-500 501+ 1K+
pricing tier $2.90/form $1.90/form $0.90/form $0.55/form Contact us!

When would you need to file a 1099-OID?

  • For any person for whom you withheld and paid any foreign tax on OID or from whom you withheld (and did not refund) any federal income tax under the backup withholding rules even if the amount of the OID is less than $10..
  • If an issuer of a certificate of deposit (CD) made, purchased, or renewed after 1970 if the CD has OID and a term of more than 1 year, you need to file this form.
  • For more,visit www.irs.gov

Important dates


With Tax1099.com, you can schedule the date that your forms are transmitted to the IRS. Scheduling your forms gives you time between when we email/USPS your forms to vendors, and when we send the forms to the IRS. This is useful because your vendors may have edits to make. You can make those changes in Tax1099 before the scheduled date at no extra charge. We automatically schedule your IRS eFile transmission at a week away from when you submit, or by the deadline. You can edit this date to match your preference.

Filing Type Due Date
Recipient copy Jan 31, 2020
IRS eFile March 31, 2020
IRS Paper Filing Feb 28, 2020

eFile info


E-file Your Tax with Tax1099

Electronically-filed 1099-OID forms are directly transmitted to the IRS from Tax1099.

You will receive IRS acknowledgement of your eFile by email within 3 - 7 business days.

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Form 1099 MISC Tax Savings
# of forms 1-10 11-100 101-500 501+ 1K+
pricing tier $2.90/form $1.90/form $0.90/form $0.55/form Contact us!

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