Tag Archives: 1099-G

Different Types of 1099 Forms

There are many different Form-1099s that you may encounter when tax season rolls around. Some of the most common include: 1099-A: If your mortgage lender cancels some or all your mortgage, or your home was sold in a short sale, you’ll likely receive a 1099-A. Because the IRS considers canceled debt to be equivalent to […]

The Form-1099 Explained

This tax season, you may receive a Form 1099 in the mail, specifically if you performed work outside your typical employer. You’ll need this document to file your tax return, so it’s important you store it in a safe place until you have everything you need to complete your return. What is a 1099? This […]

Unemployment can be Taxing

Unemployment benefits are taxed depending on the type of program you are receiving the benefits from. Compensation amounts from unemployment include any income received according to either the federal or state laws of the United States. This compensation can include: State unemployment insurance benefits Benefits paid from the Federal Unemployment Trust Fund Railroad unemployment compensation […]

What is a 1099-G?

There’s a chance you’ll need to report the information listed on a Form 1099-G should you receive one from a government agency. Typically, 1099-G is used to report compensation from unemployment benefits, along with tax refunds issued by the state or local government. Unemployment Benefits If you receive compensation from unemployment, you are required to […]