2024-07-05US Tax Return Form 1099 Guideline Note
Form |
Description |
Due Date |
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Recipient |
RS |
1099-NEC |
If you are the sole proprietor of your own business or if you're an LLC and you perform services for clients, you’ll receive a Form 1099-NEC. NEC stands for nonemployee compensation. |
31 Jan |
28 Feb |
1099-MISC |
If you earned USD600 or more in rent, a prize on a game show, royalties from a song you wrot. This Form, where “MISC” short for “miscellaneous”, may arrive in your mailbox. |
31 Jan |
28 Feb |
1099-A |
If you had property foreclosed on during the tax year, you may receive this form from your mortgage lender if it canceled some or all of your mortgage, you forfeited ownership or had your property sold in a short sale. |
31 Jan |
28 Feb |
1099-B |
This form will include any income you received from the sale of stocks, mutual funds, ETFs and other types of transactions. |
15 Feb |
28 Feb |
1099-C |
The C stands for "cancellation of debt." This is issued by a financial institution or a lender to report a debt of USD600 or more that was cancelled or forgiven. The amount cancelled or forgiven is imputed as income and is taxable in many circumstances. |
31 Jan |
28 Feb |
1099-DIV |
This form shows income received through dividends and other stock distributions totaling USD10 or more. |
31 Jan |
28 Feb |
1099-INT |
If you earned taxable interest income of USD10 or more from your bank, credit union, brokerage or other financial institution, you will receive a 1099-INT. |
31 Jan |
28 Feb |
1099-R |
Some retired people receive 1099-Rs, which show distributions from income sources such as pensions, annuities, profit-sharing plans, life insurance contracts and other retirement accounts. |
31 Jan |
28 Feb |
SSA-1099 |
The Social Security Administration sends SSA-1099s every year to American citizens and residents who received Social Security benefits during the previous year. |
31 Jan |
28 Feb |
1099-G |
The “G” is a reference for government. This is where you will normally see state and local tax refunds as well as unemployment compensation, |
31 Jan |
28 Feb |
1099-K |
This shows revenue received through a third-party processor like a credit card company. |
31 Jan |
28 Feb |
1099-S |
If you sold a house or other real estate last year, you may receive a 1099-S. You may not have to pay tax on it, but you’ll need to report the numbers on your tax return. |
15 Feb |
28 Feb |
1099-Q |
This form will show any 529 (an education saving plan) payments that you may have received in the previous year. |
31 Jan |
28 Feb |
1099-LTC |
If you received any long-term care insurance benefits in the last year, you may get a Form 1099-LTC. |
31 Jan |
28 Feb |
1099-SA |
You might receive a 1099-SA if you receive distributions from your health savings account. You may not have to pay taxes on the distributions, but you'll still sometimes receive a tax form. |
31 Jan |
28 Feb |
1099-OID |
This tax form shows information similar to interest but usually on bonds. |
31 Jan |
28 Feb |
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