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Amendment to the 2016 Instructions for Form 1099-B -- 16-AUG-2016

The issuer's instructions for Box 2 in the 2016 Instructions for Form 1099-B are amended as follows.

For section 988 transactions brokers may, but are not required to, check the "Ordinary" check box.

Brokers are not required to check the "Ordinary" check box if the security is a market discount bond or passive foreign investment company stock.

Brokers are required to check the "Ordinary" check box  if the security is a contingent payment debt instrument subject to the noncontingent bond method.

 

Page Last Reviewed or Updated: 16-Aug-2016