Long Term Original Issue Discount (OID) Services
Long Term OID is a transaction-based service that offers compliance with the reporting regulations governing instruments issued with Original Issue Discount. Using transaction histories provided by you, Wall Street Concepts computes the appropriate income for each tax lot. Data files are returned so that you can produce Forms 1099-OID for the beneficial owners.
Features
- Identifies relevant securities
- Supports compliance with regulations governing the recognition of OID income
- Coordinates non-qualified stated interest payments (NQSI)
- Computes premium and discount on secondary market purchases
- Includes coverage of municipal obligations and taxable bonds not published by the IRS
- Calculates the investor's actual income on STRIP holdings based on purchase price
Benefits
- Facilitates the computation of Original Issue Discount information
- Allows you to concentrate on managing client relationships
- Provides information beyond reportable amounts, facilitating completion of Form 1040