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What is a 1099 tax form
What is a 1099 form used for
Who must file a 1099 form
Who do I give a 1099 to
Do I have to claim a 1099 fom on my taxes
What if I did not receive a 1099 form
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What is a 1099 form used for?
Many people and businesses are confused about what is a 1099 form used for. There are many 1099 forms and there are many different purposes for them. However, they have one thing in common which is what all the 1099 forms are supposed to be used for and that is to report transactions to the IRS as information returns. Below is a sample of a 1099 form for reporting interest income to the IRS.
What are the 1099 forms used for?
Below is a list of all the different 1099 forms and what they are used for.
| Tax form | What is it used for? |
| 1099-A | Acquisition or Abandonment of Secured Property |
| 1099-B | Proceeds from Broker and Barter Exchange Transactions |
| 1099-C | Cancellation of Debt |
| 1099-Div | Dividends and Distributions |
| 1099-G | Certain Government and Qualified State Tuition Program Payments |
| 1099-INT | Interest Income |
| 1099-LTC | Long Term Care and Accelerated Death Benefits |
| 1099-MISC | Miscellaneous Income (Also, use this form to report the occurrence of direct sales of $5000 or more of consumer goods for resale.) |
| 1099-MSA | Distributions From an MSA or Medicare+Choice MSA |
| 1099-OID | Original Issue Discount |
| 1099-PATR | Taxable Distributions Received From Cooperatives |
| 1099-R | Distributions From Pensions, Annuities, Retirement or profit-sharing Plans, IRAs, Insurance Contracts, Etc. |
| 1099-S | Proceeds From Real Estate Transactions |
Tax Questions is a resource and information website only. We do not offer individual advice. For specific tax questions and answers, you are advised to consult your tax attorney.
