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The capital gains and losses that a recipients incurs after selling certain assets through brokerages and barter exchanges are reported on Form 1099-OID.
Here’s how Form 1099-OID endpoint may be used:
- Call Auth method to get the access token. This access token must be supplied in the request header as the ‘Bearer‘ token. Refer OAuth 2.0 Authentication for more information on JWT authentication and how to integrate with the subsequent requests.
- Use ValidateForm method to validate the field level specifications of form 1099-OID before creating the form.(Optional)
- Use Create method to create Form 1099-OID for recipients under payer.
- Use RequestDraftPdfUrl to return the Draft PDF for review purposes. These forms are not transmitted and will have a watermark "For Review only" on it
- Use Update method to make changes to an existing Form 1099-OID returns.
- Use Delete method to delete 1099-OID return prepared in TaxBandits.
- Use Validate method to audit the data of Form 1099-OID before transmission to the IRS.
- Use Transmit method to transmit the 1099-OID to the IRS.
- Use the RequestDistUrl method to generate a unique URL from which the recipients can view and download 1099.
- Use RequestPdfURL method to retrieve PDFs for single or multiple recipients.
- Use Status method to check the status of the 1099-OID after transmission.
- Use List method to list all Form 1099-OID for a Submission or Payer.
- Use Get method to retrieve the Form 1099-OID return information
- Use GetPDF method to return the link to the Form 1099-OID in PDF format. Webhook has to be set up for this.