Original issue discount (OID) and Issuer BK

[sampr01]

Hi

 

I would like to get some guidance on "how one can handle 1099-OID and issuer filed for BK after acquisition. Thanks in adavance

 

Thanks

[aws]

OID increases your basis in the bond, so if you were to sell you could claim a loss for the OID previously claimed in income and whatever loss you have on the original cost.  Not sure if that's what you are asking about, so perhaps you could be more specific.