IRS Forms 1099

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Form 1099 Page 1
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Updated Jan 16, 2025
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An IRS form 1099 is a crucial document used in the United States financial and tax systems to report various types of income received throughout the year. This form is provided by businesses, financial institutions, or other entities to individuals or organizations who have earned income such as dividends, interest, rent, or payment for services. Download the appropriate 1099 form in PDF and confidently fill it out with the guidelines provided below.
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Document Types
Form 1099-A
This form reports the acquisition or abandonment of secured property.
275 downloads
Form 1099-B
This form reports proceeds from the sale of securities or certain barter transactions.
271 downloads
Form 1099-C
This form reports canceled debts of $600 or more, which may be considered taxable income.
269 downloads
Form 1099-CAP
This form reports corporate changes that result in distributions to shareholders.
266 downloads
Form 1099-DIV
This form reports dividends, capital gain distributions, and other investment income.
281 downloads
Form 1099-G
This form reports taxable payments from government agencies.
315 downloads
Form 1099-H
This form reports HCTC advance payments for the recipient.
233 downloads
Form 1099-INT
This form reports interest income to the IRS and payment recipients.
297 downloads
Form 1099-K
This form reports payment transactions for goods and services processed through third-party networks.
236 downloads
Form 1099-LS
This form reports the transfer or acquisition of a life insurance contract.
225 downloads
Form 1099-LTC
This form reports long-term care and accelerated death benefit payments.
226 downloads
Form 1099-MISC
This form reports an income that is not classified as wages, salaries, or tips.
622 downloads
Form 1099-NEC
This form reports payments to independent contractors or self-employed individuals.
843 downloads
Form 1099-OID
This form reports OID income from financial instruments like bonds or notes.
226 downloads
Form 1099-PATR
This form is used to report taxable distributions or patronage dividends from cooperatives.
223 downloads
Form 1099-Q
This form reports distributions from education savings programs to the IRS and recipients.
221 downloads
Form 1099-QA
This form documents distributions from ABLE accounts for tax and eligibility purposes.
218 downloads
Form 1099-R
This form is used to report retirement and pension distributions to the IRS and recipients.
287 downloads
Form 1099-S
This form is used to report real estate transaction proceeds.
236 downloads
Form 1099-SA
This form is used to report distributions from health or medical savings accounts.
218 downloads
Form 1099-SB
This form is used to report life insurance policy transfers to the IRS and recipients.
220 downloads
Forms 1099

The IRS 1099 forms are a complex set of tax documents used to report various types of income received outside of regular wages or salaries. These forms are crucial for businesses and individuals, as they help the IRS track income that may not appear on a W-2. Whether it’s freelance earnings, interest, dividends, or even debt cancellations, the 1099 forms cover a wide range of income sources.

What Are the Types of the 1099 Form?

The IRS has developed multiple versions of the 1099 form, each tailored to a specific type of income. 

Let’s explore the most common types and who might need to file them.

1099-MISC — Miscellaneous information

The 1099-MISC is a catch-all form used to report various types of income not covered by other 1099 forms, such as rent, royalties, and prizes.

Who Sends It

Businesses paying $600+ in rents, prizes, or income, or $10+ in royalties.

Who Gets It

Landlords, royalty earners, or recipients of legal settlements.

1099-NEC — Nonemployee compensation

Form 1099-NEC is used to report payments made to independent contractors or freelancers for their services. It ensures the IRS tracks income that isn’t subject to traditional employment tax withholding.

Who Sends It

Businesses paying $600+ to nonemployees in a year.

Who Gets It

Freelancers or contractors paid $600+.

1099-A — Acquisition or abandonment of secured property

The 1099-A tax form tracks forgiven debt related to foreclosures or abandoned properties to inform the IRS of possible taxable income.

Who Sends It

Lenders who acquire property through foreclosure or abandonment.

Who Gets It

Borrowers whose property has been foreclosed or abandoned.

1099-B — Proceeds from broker and barter exchange transactions

Form 1099-B helps report capital gains or losses from the sale of investments like stocks or bonds.

Who Sends It

Brokers or barter exchanges.

Who Gets It

Investors or individuals involved in stock sales, trades, or bartering transactions.

1099-C — Cancellation of debt

Issued by financial institutions, the 1099-C form notifies the IRS about taxable income from forgiven debts.

Who Sends It

Lenders who forgive $600 or more of a borrower’s debt.

Who Gets It

Individuals whose debts are canceled or forgiven.

1099-CAP — Changes in corporate control and capital structure

This 1099-CAP form records payments or distributions from corporate mergers or changes in ownership.

Who Sends It

Corporations that experience significant control changes affecting shareholders.

Who Gets It

Shareholders affected by the corporate restructuring.

1099-DIV — Dividends and distributions

Used by banks and financial institutions, the 1099-DIV ensures taxpayers report dividend income and capital gains distributions correctly.

Who Sends It

Companies, mutual funds, or brokers paying dividends.

Who Gets It

Investors receiving dividends, capital gains, or non-taxable distributions.

1099-G — Certain government payments

Tax document 1099-G tracks taxable payments from the government, like unemployment benefits or state tax refunds.

Who Sends It

Federal, state, or local governments.

Who Gets It

Individuals receiving unemployment benefits, state tax refunds, or other government payments.

1099-H — Health Coverage Tax Credit (HCTC) advance payments

Form 1099-H documents advance payments for health coverage that may need to be reconciled during tax filing.

Who Sends It

Providers of the Health Coverage Tax Credit (HCTC).

Who Gets It

Individuals receiving advance payments for health coverage tax credits.

1099-INT — Interest income

This tax form 1099-INT reports earned interest income, which is taxable and must be included on tax returns.

Who Sends It

Banks, credit unions, or other financial institutions.

Who Gets It

Individuals earning $10 or more in interest.

1099-K — Payment card and third-party network transactions

The 1099-K tracks income from payment card transactions or online sales platforms.

Who Sends It

Payment processors like PayPal, Venmo, or credit card companies.

Who Gets It

Businesses or individuals receiving $600 or more in payments through third-party platforms.

1099-LS — Reportable life insurance sale

Form 1099-LS reports taxable gains from selling a life insurance policy.

Who Sends It

Acquirers of a life insurance policy.

Who Gets It

Policy sellers involved in a life insurance transaction.

1099-LTC — Long-term care and accelerated death benefits

These tax forms 1099-LTC record payments from long-term care policies or accelerated death benefits, which may be taxable.

Who Sends It

Insurers providing long-term care or accelerated death benefits.

Who Gets It

Individuals receiving long-term care benefits.

1099-OID — Original issue discount

This document (1099-OID) shows taxable income from original issue discounts on bonds or other debt instruments.

Who Sends It:

Issuers of debt instruments purchased at a discount.

Who Gets It

Investors earning $10 or more in original issue discount income.

1099-PATR — Taxable distributions received from cooperatives

Form 1099-PATR tracks patronage dividends and other distributions that must be reported as income.

Who Sends It

Cooperatives distributing taxable income.

Who Gets It

Members or patrons receiving distributions.

1099-Q — Payments from qualified education programs

The tax form 1099-Q documents distributions from education savings accounts, which may be taxable if not used for qualifying expenses.

Who Sends It

Education savings plan administrators (e.g., 529 plans).

Who Gets It

Beneficiaries or account holders receiving distributions for education expenses.

1099-QA — Distributions from ABLE accounts

The form 1099-QA reports distributions from ABLE accounts to track compliance with allowable expenses.

Who Sends It

 Administrators of ABLE accounts.

Who Gets It

Individuals withdrawing funds from ABLE accounts.

1099-R — Distributions from pensions, annuities, retirement, or profit-sharing plans

The 1099-R gives information about taxable and tax-exempt distributions from retirement plans.

Who Sends It

Retirement plan administrators, insurance companies, or pension providers.

Who Gets It

Individuals receiving retirement distributions.

1099-S — Proceeds from real estate transactions

The 1099-S ensures that the IRS is aware of gains from real estate transactions, which may be taxable.

Who Sends It

Real estate brokers or settlement agents.

Who Gets It

Sellers of real estate property.

1099-SA — Distributions from an HSA, Archer MSA, or Medicare Advantage MSA

Form 1099-SA tracks distributions to determine if they were used for qualified medical expenses.

Who Sends It

Administrators of HSA, Archer MSA, or Medicare Advantage MSA accounts.

Who Gets It

Individuals receiving distributions from these accounts.

1099-SB — Seller’s investment in life insurance contract

This 1099-SB form reports the seller’s investment and any taxable gains from the sale of life insurance contracts.

Who Sends It

Issuers of a life insurance contract.

Who Gets It

Sellers of life insurance contracts reporting their investment in the policy.

Requirements for the IRS 1099 Forms

Filing deadlines

Meeting the IRS deadlines for 1099 forms is essential to avoid penalties. Here are the key dates:

  • January 31: Deadline to send most 1099 forms to recipients.

  • February 28 (Paper Filing): Deadline to submit paper forms to the IRS.

  • March 31 (Electronic Filing): Deadline for electronic submissions to the IRS.

If you miss these deadlines, you may face fines ranging from $50 to $280 per form, depending on how late the submission is.

Exemptions from filing a 1099

  • Payments to Corporations: Most payments made to corporations are exempt, except for certain payments like medical and legal services.
  • Employee Wages: Payments to employees should be reported on a W-2 form, not a 1099.
  • Payments Under $600: If total payments to a recipient are less than $600 in a year, a 1099 is generally not required (except for specific types like interest or dividends, where the threshold is $10).
  • Personal Payments: Payments made for personal, non-business reasons do not require a 1099.
  • Tax-Exempt Organizations: Payments made to tax-exempt organizations, such as charities, are typically exempt.
  • Payments for Merchandise: Payments for goods, inventory, or other merchandise are not subject to 1099 reporting.
  • Payments Made via Third-Party Platforms: Payments processed through third-party platforms (e.g., PayPal) may not require a 1099, as the platform may handle reporting on a 1099-K.

How To File

Filing a 1099 form involves several steps:

  • Obtain the Correct Form: Visit the IRS website or purchase official forms.
  • Fill Out the Form: Include accurate details, such as the recipient’s name, address, and taxpayer identification number.
  • Distribute Copies: Send Copy B to the recipient and Copy A to the IRS.
  • File with the IRS: Submit your forms electronically or by mail. If filing 250 or more forms, e-filing is mandatory.

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