{"id":1224,"date":"2018-03-22T14:14:19","date_gmt":"2018-03-22T18:14:19","guid":{"rendered":"https:\/\/www.etax.com\/blog\/?p=1224"},"modified":"2019-07-09T13:25:46","modified_gmt":"2019-07-09T17:25:46","slug":"the-form-1099-explained","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2018\/03\/22\/the-form-1099-explained\/","title":{"rendered":"The Form 1099 Explained"},"content":{"rendered":"<p class=\"p2\"><span class=\"s2\">There are a variety of Form 1099 one may receive when collecting their tax documents. If you\u2019re a worker, you won\u2019t fill out the form yourself, but will receive it from the party who paid you or holds your investment account. Its one of the few tax forms that simply report information and you aren\u2019t required to fill them out yourself. <\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><b>1099-Misc: <\/b>This type is for miscellaneous income, such as freelancing work, independent contracting services, or internships. Regular employees have their income reported via a W-2. Those who paid a freelancer or independent contractor will need to use a 1099-MISC to report the person\u2019s wages, so make sure the person who hired you has your correct information and address.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><b>1099-INT: <\/b>You\u2019ll receive this form if the bank has paid you interest periodically. If you have a savings account, the bank will supply a 1099-INT to document the total amount of interest you earned throughout the year. It is taxable, so don\u2019t forget to report it when you file your tax return, even if it\u2019s a small amount.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><b>1099-DIV: <\/b>Used for reporting dividends from any investment accounts, a 1099-DIV will be supplied from your broker. Dividends are different from <a href=\"https:\/\/www.etax.com\/blog\/2025\/07\/15\/how-to-pay-0-capital-gains-tax-in-2025-and-make-over-100k-doing-it\/\">capital gains<\/a> and losses acquired when selling assets, as these are reported separately. Don\u2019t forget to include dividends when you file your tax return.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><b>1099-G: <\/b>G is for government, meaning any earnings from unemployment or state tax refunds are reported on this form. Unemployment compensation is taxed at the federal level and needs to be reported on your tax return. If you claimed a <a href=\"https:\/\/www.etax.com\/blog\/2026\/02\/19\/new-auto-loan-interest-deduction-how-to-save-up-to-10000-on-your-taxes-2025-2028\/\">deduction<\/a> for state taxes, you\u2019ll need to report state taxes listed on the 1099-G as income when you file your federal return.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><b>1099-R: <\/b> This form is used to report withdrawals from a traditional <a href=\"https:\/\/www.etax.com\/blog\/2025\/08\/19\/big-changes-coming-for-inherited-iras-in-2025\/\">IRA<\/a> or other retirement account. The form will come from your broker that handles your retirement account and will document each withdrawal throughout the year. This form also covers pensions, profit-sharing and annuity withdrawals as well.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\"><b>1099-C: <\/b>Comes from a creditor who has canceled a portion of your debt. For example, your credit card company offers a settlement of your debt, and you can expect to receive a 1099-C. The bad part is that canceled debt is considered taxable income, so your tax liability may increase.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\">All 1099 forms should be received by January 31<\/span><span class=\"s3\"><sup>st<\/sup><\/span><span class=\"s2\"> to allow for enough time to complete your tax return by the April tax deadline. You should contact your bank or employer if you haven\u2019t received your 1099 form and ensure that they have the correct information on file. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are a variety of Form 1099 one may receive when collecting their tax documents. If you\u2019re a worker, you won\u2019t fill out the form yourself, but will receive it from the party who paid you or holds your investment account. Its one of the few tax forms that simply report information and you aren\u2019t [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1473,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121],"tags":[543,261,275,91,271,593],"class_list":["post-1224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income","tag-1099-c","tag-1099-div","tag-1099-int","tag-1099-misc","tag-1099-r","tag-form-1099"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Form 1099 Explained - eTax.com\u00ae Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etax.com\/blog\/2018\/03\/22\/the-form-1099-explained\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Form 1099 Explained - eTax.com\u00ae Blog\" \/>\n<meta property=\"og:description\" content=\"There are a variety of Form 1099 one may receive when collecting their tax documents. 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