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Form 1099

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Definition: Form 1099 is used to report different types of taxable income. The letters behind the 1099 indicate which type of form you are dealing with:

  • Form 1099-B reports the sale of stocks, bonds, mutual funds and other securities.
  • Form 1099-C reports debts that were canceled
  • Form 1099-DIV reports dividends, qualified dividends, and capital gains distributions.
  • Form 1099-G reports payments from state governments such as unemployment compensation and state tax refunds.
  • Form 1099-INT reports interest earned.
  • Form 1099-MISC reports various types of income including rents, royalties, and non-employee compensation.
  • Form 1099-MSA reports distributions for a medical savings account.
  • Form 1099-OID reports original issue discount income.
  • Form 1099-PATR reports patronage dividends paid by a cooperative.
  • Form 1099-R reports distributions from a retirement plan such as an IRA, 401(k) or pension.
  • Form 1099-S reports proceeds from the sale of real estate.
  • Form SSA-1099 reports Social Security benefits paid.
  • Form RRB-1099 reports railroad retirement benefits.
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