Bond interest reported on Box 3 of a 1099-MISC
Bond interest reported on Box 3 of a 1099-MISC
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External question — Personal Finance Stack Exchange
Author: Bob
Original post: https://money.stackexchange.com/questions/156481
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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A friend of mine has a significant amount of variable interest bonds. In certain cases, I believe the issuer could have paid the bond off with stock. His broker reported the interest on these bonds on Box 3 of a 1099-MISC. Any idea why?
I am thinking that the 1099 might be wrong but a corrected 1099 would not affect the amount of tax he has to pay.
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Quoted from Forex.com.bd-Editorial External question — Personal Finance Stack Exchange Author: Bob Source score (net votes, not local likes): 0 Original post: https://money.stackexchange.com/questions/156481 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. A friend of mine has a significant amount of variable interest bonds. In certain cases, I believe the issuer could have paid the bond off with stock. His broker reported the interest on these bonds on Box 3 of a 1099-MISC. Any idea why? I am thinking that the 1099 might be wrong but a corrected 1099 would not affect the amount of tax he has to pay.
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