Variants of Form 1099
4th December 2008 by Tax Man No CommentsVariants of Form 1099
Form 1099 is a form that is issued by the Internal Revenue Service or the IRS, which is used in the US income tax system to file returns other than those received from wages, tips, or salaries. As of 2007, there have been various versions of the form 1099 used, which depends on each type of income transaction made.
• 1099-A: acquisition or Abandonment of Secured Property
• 1099-B: Proceeds from Broker and Barter Exchange Transactions
• 1099-C: Cancellation of Debt
• 1099-CAP: Changes in Corporate Control and Capital Structure
• 1099-DIV: Dividends and Distributions
• 1099-G: Government Payments
• 1099-H: Health Insurance Advance Payments
• 1099-INT: Interest Income
• 1099-LTC: Long Term Care Benefits
• 1099-MISC: Miscellaneous Income
• 1099-OID: Original Issue Discount
• 1099-PATR: Taxable Distributions Received From Cooperatives
Variants of Form 1099
• 1099-Q: Payment from Qualified Education Programs
• 1099-R: Distributions from Pensions, Annuities, Retirement Plans, IRAs, or Insurance Contracts
• 1099-S: Proceeds from Real Estate Transactions
• 1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA
• 1042-S: Foreign Person’s U.S. Source Income
• SSA-1099: Social Security Benefit Statement
• SSA-1042S: Social Security Benefit Statement to Nonresident Aliens
• RRB-1099: Payments by the Railroad Retirement Board
• RRB-1099R: Pension and Annuity Income by the Railroad Retirement Board
• RRB-1042S: Payments by the Railroad Retirement Board to Nonresident Aliens
• W-2G: Certain Gambling Winnings
Filing form 1099 is done on a calendar year basis which is from January 1st to December 31st. By the end of February, all returns should be filed with the IRS, while all the copies of returns should be given back to the payees by the end of January.
