Form Instruction 1099-INT & 1099-OID for Palmdale California 2024-2025

Form Instruction 1099-INT & 1099-OID for Palmdale California: What You Should Know

Dec 6, 2025 — Report income from non-wage sources. Report interest is taxable DID in box 2 or box 8 of form 1099-OID, Original Issue Discount. Tax-exempt income from sources other than wage income is not required to report income from non-wage sources. Caveats for Form 1099-INT — IRS FAQs (7/20/2017) To be more specific about a Form 1099-OID, the information that is required on the Form is not the same as required on IRS Publication 644. For more details, see IRS Publication 644. Additionally, the Form 1099-OID for 2025 is not applicable to income reported before January 1, 2018. Dec 6, 2025 — Exempt Interest that is not subject to Federal Income Tax. In the section of Form 1099-OID (1099-INT) for exempt interest, there are a number of different items under the question of what to do if the income comes from non-wage income (INN). If you receive exemption from the Federal income tax because you receive this interest on your non-wage income (income from sources other than wage income, such as dividends, interest, annuities, capital gains, rental real estate (including the value of equipment you use in the rental), and the value of equipment you acquired for your business) then it has become a source of tax-exempt income for tax purposes even though the interest is taxable. Because of this, it is important to report this income on Form 1099-OID for interest that is not subject to Federal income tax. Report any tax-exempt interest received by you from a non-profit organization and which is not exempt. This is a good time to contact your nonprofit and ask if they are sending you information about your exempt interest. If they do not request that you report on your Form 1099-OID the exempt interest the organization has filed on your behalf, you should report it on your tax return.  See IRS Publication 644 for more details. Sep 20, 2025 — Additional information on Form 1099-OID. The following additional information applies to Forms 1099-OID for taxable interest in box 2 or box 8 of the form.

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