1099 Form
What is a 1099 Form?
The 1099 Form serves a similar purpose to the familiar W2 Form. Individuals may receive 1099 forms in the mail from banks reporting their interest earnings, or from companies for contracting work.
Who must file a 1099 Form?
If you are a business who has paid independent contractors or other non-employee workers, you must file a 1099 Form. However, a 1099 Form is only required if the payment is $600 or above.
Types of Form 1099
- 1099-A - Acquisition or Abandonment of Secured Property
- 1099-B - Proceeds From Broker and Barter Exchange Transactions
- 1099-C - Cancellation of Debt
- 1099-CAP - Changes in Corporate Control and Capital Structure
- 1099-DIV - Dividends and Distributions
- 1099-G - Certain Government Payments
- 1099-H - Health Coverage Tax Credit (HCTC) Advance Payments
- 1099-INT - Interest Income
- 1099-K - Merchant Card and Third Party Network Payments
- 1099-LTC - Long-Term Care and Accelerated Death Benefits
- 1099-MISC - Miscellaneous Income
- 1099-OID - Original Issue Discount
- 1099-PATR - Taxable Distributions Received From Cooperatives
- 1099-Q - Payments From Qualified Education Programs (Under Sections 529 and 530)
- 1099-R - Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
- 1099-S - Proceeds From Real Estate Transactions
- 1099-SA - Distributions From an HSA, Archer MSA, or Medicare Advantage MSA