What's up guys it's your boy the bad wolf coming to you live from well my little office here um first i want to thank everybody out there for supporting us we are over ten thousand we are about to hit 11 00 people in a matter of days that's fire um but once again i did say that once we got over ten thousand wasn't going to be a big thing so i want to divert that energy and attention to thanking all of you guys who have something the donations who have been spreading the word it's very clear that um you guys are really enjoying your freedoms and your rights versus privileges and benefits and everything else in that topsy-turvy world so remember guys we are non-belligerent non-combatants known by the department of state as non-us nationals or non-us citizen nationals or u.s nationals everything else is not on the books legally so that is why we use that term okay if you guys see anybody else out there using any of this copyright information for negative uh reasonings harassment um you know whatever else report them okay that being said we're gonna jump off into the video let's see here um okay so with this one we're going to be talking about the 1099 oid now we already did some videos on that so i'm not going to go on that specifically but a lot of you guys have been asking me for information on you know how to a little bit more in-depth information how do they do it where can i find information well i'm glad you asked so before we jump in though don't forget to hit that bell like subscribe i would appreciate it if not at least continue to watch and...
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1099 Oid Publication 1212 Form: What You Should Know
G., Virginia will also report sales taxes). You will need A report for the year you sold the bond. You must report all the following under Box 1. Date of sale. Amount paid for sale and principal consideration. The amount you paid on the bond. Any gains. A copy of the IRS Form 1099-OID that you received. If it contains sales tax and the proceeds of the sale are not more than your adjusted tax basis in the bond, you need: Box 15. Form 1099-OPI — Original Issue Penalty Interest (DID) If you received a Form 1099-OID with additional information, you will need to complete Form 1099-OID — Original Issue Penalty Interest. You must send Form 1099-OID — Original Issue Penalty Interest to the following address using a check or money order, payable to the IRS: The Internal Revenue Service Attn: Original Issue Discount Unit, P.O. Box 9800, Austin, TX 78. You should receive more than one Form 1099-OID for the year you held the bond. A Form 1099-OID is used to calculate your portion of any loss. The amount paid on the bond is not the same as the amount you would have charged had you had paid in the same amount at which the proceeds of sale were received. If you bought the bond with funds you raised in the stock market, you should receive a Form 1099-OID for the year the bonds become your property. About Publication 1212, Guide to Original Issue Discount — IRS Form 1099-OID is used by brokers, middlemen and owners to calculate the amount of DID interest to report. The tables are found on the IRS website. IRS Publication 1212: Guide to Original Issue Discount (DID Its primary purpose is to help brokers identify publicly offered original issue discount (DID) debt instruments they may hold as nominees Information for Owners of DID Debt Instruments Form 1098. You should receive a Form 1098 from the issuer when you collect the bond money, or when you sell or liquidate it. You may need to send a Form 1098 if you purchased a bond that becomes your property. Furthermore, you may also owe additional taxes and interest if: The purchase is not in a qualified sale. The purchaser is a foreign corporation or a nonresident alien individual.
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