Understanding different types of 1099 forms The IRS currently has 21 different versions of Form 1099, but the two primary types you need to know are the 1099-MISC and the 1099-NEC.

If you receive Social Security benefits, you probably know about the SSA-1099 or SSA-1042S tax form. Each January, the Social Security Administration (SSA) mails this document to help you report ...

1099-A Form 1099-A documents "acquisition or abandonment of secured property." If you lost a property to foreclosure, your lender will send you this form so you can document capital losses.

Those who received more than $5,000 in payments for goods and services through an online marketplace or payment app in 2024 should expect to receive a Form 1099-K PDF in January 2025.

What Is Form 1099-INT? Form 1099-INT is an official tax document used to report interest income earned throughout the year.

Understanding Form 1099-R At its core, Form 1099-R is an IRS document used to report distributions from retirement plans, annuities, profit-sharing plans, IRAs, and insurance contracts.

You’ll need the 1099-NEC form to calculate tax debts and help the IRS track tax expectations. You can obtain the contractor’s name, Social Security number and address from the collected W-9 forms.

Form 1099-R. If you had to take money from your 401 (k) or other retirement accounts, you will have received a 1099-R for the amount taken. This form will also show any tax withheld.

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC, Nonemployee Compensation. The IRS ...

The Internal Revenue Service updated its frequently asked questions Wednesday about Form 1099-K, the information return used for reporting transactions involving payment cards and third-party networks ...