Page 80 - Interest Income - Individuals Handbook
P. 80
Original Issue Discount (OID)
Refiguring periodic
Nominee interest shown on Form Bearer CD’s
1099-OID
If someone else is the holder of If you disposed of a debt CDs issued after 1982 must
record (the registered owner) of instrument or acquired it from generally be in registered form.
an OID instrument belonging to another holder during the year, see Bearer CDs are CDs not in
you and receives a Form 1099- Bonds Sold Between Interest Dates, registered form.
OID on your behalf, that person earlier, for information about the They aren't issued in the
must give you a Form 1099-OID. treatment of periodic interest that depositor's name and are
may be shown in box 2 of Form transferable from one individual
1099-OID for that instrument. to another.
Banks must provide the IRS and
the person redeeming a bearer
78
CD with a Form 1099-INT.
