What If I Have to Issue a 1099 Form?

We have divided the topic of 1099 forms up into 3 pages:

1. This page is intended for those who might need to file a Form 1099.
2. Go here if you received a Form 1099.
3. Go here for a general overview of 1099's and 1099 requirements.

If you made certain payments during the tax year, you are required by the IRS to file a Form 1099, and to send a copy to the payment's recipient.

If you might have to issue a 1099, you may be wondering:

  • How Much Does My Payment Have to Be Before I Issue a 1099?
  • Which 1099 Do I Use?
  • When Is the 1099 Due to the Recipient and to the IRS?

Well, wonder no more! The table on this page will answer all of those questions for each type of 1099 form.

Form 1099 Descriptions, Requirements, and Due Dates

1099 FormTypes of Income ReportedMinimum Reporting Requirement*Date Due to RecipientDate Due to IRS
  • home foreclosures
  • property abandonments
Any amount Jan. 31 February 28
  • securities sales
  • redemption of securities
  • commodities trading
  • futures transactions
  • barter exchanges
Any amount Feb. 15 February 28
  • canceled or forgiven debt
  • discharge of indebtedness
$600 Jan. 31 February 28
  • changes in capital structure
  • a new acquisition of corporate control
Stock or property valued at $100 million Jan. 31 February 28
  • dividends
  • distributions of capital gains
  • distributions of liquidations
$10 ($600 or more for liquidations) Jan. 31 February 28
  • unemployment benefits
  • state and local tax refunds
  • alternate TAA payments
  • taxable grants
  • agricultural payments
$10 Jan. 31 February 28
  • advance payments of health insurance premiums made under the Health Coverage Tax Credit
Any amount Jan. 31 February 28
  • interest income
$10 ($600 for certain business-related interest income) Jan. 31 February 28
  • merchant card (credit and debit card) payments
  • third party network payments (such as PayPal)
$20,000 in total transactions Jan. 31 February 28
  • long-term care insurance benefits
  • life insurance distributions
  • accelerated death benefits
Any amount Jan. 31 February 28
  • nonemployee compensation (including contract payments, commissions, reimbursements, awards, and bonuses)
  • rental income
  • royalties
  • attorney fees
  • board of directors fees
  • medical service fees
  • proceeds from direct sales of consumer products for resale
  • crop insurance proceeds
  • payments to fishing boat crew members
  • Indian gaming profits paid to tribal members
  • punitive damages awarded in court
  • "golden parachutes"
  • substitute dividends and tax-exempt interest payments
  • income from an NQDC (nonqualified deferred compensation plan) under Section 409A
  • $600 for non-employee compensation
  • $10 for royalties, substitute dividends, and tax-exempt interest payments
  • any amount for other sources
Jan. 31 Feb. 28
  • original issue discounts, which are a special type of interest repayment
$10 Jan. 31 February 28
  • distributions from Co-ops
$10 Jan. 31 February 28
  • distributions from Coverdell ESAs and Qualified Tutition Programs (QTPs)
  • rollovers of these accounts
Any amount Jan. 31 February 28
  • annuities
  • pensions
  • life insurance contracts
  • profit-sharing plans
  • retirement plans (IRA, Roth, SEP, SIMPLE, military)
  • plan rollovers and conversions
$10 Jan. 31 February 28
  • sales and exchanges of real estate or land
  • timber royalties made under a pay-as-cut contract
$600 Jan. 31 February 28
  • Health Savings Accounts (HSAs)
  • Archer MSAs (Medical Savings Accounts)
  • Medicare Advantage MSAs
Any amount Jan. 31 February 28
  • railroad retirement benefits and Social Security equivalent benefits
Any amount Jan. 31 N/A
  • Social Security benefits
Any amount Jan. 31 N/A

*Minimum Reporting Requirement: You are required to file a 1099 if the sum of all the payments you made during the year to any one recipient was this amount or more.

How Do I File a 1099?

1099s are filed on paper only. Unlike other tax forms, 1099s cannot generally be printed out at home on a desktop printer. Blank 1099s are printed on special paper. You can obtain the forms for free from the IRS. In a pinch, you can often buy them at office supply stores.

Each Form 1099 comes with 5 copies. You write or type on the top copy and it transfers down onto each copy, like carbon paper. You fill out the 1099 and send Copy A to the IRS, Copy 1 to the appropriate state tax agency, Copy B and Copy 2 to the income's recipient (they get two copies so they can attach one to their return and keep one), and you keep Copy C for your records.

After you have filled out all of your 1099 forms for the year, you need to fill out a Form 1096 as well. Form 1096 summarizes all of your 1099 forms and is filed with the IRS.

Related Form 1099 Tax Topics:

What If I Received a Form 1099?

What Is a Form 1099?

How Do I File If I Am Self-Employed?

What Income Is Taxable?