1099 Forms

1099 tax forms report various types of income received throughout the year, excluding wages. They are issued by payers to recipients for income sources like freelance work, interest, and rental income. The most common types are the 1099-MISC and 1099-NEC, used for independent contractors or the self-employed. Recipients use these forms to accurately report income on their tax returns.

• Here is a list of all 1099 Forms you can enter and report on your tax return with detailed instructions.
• Review the implications of being self-employed and the forms you may need to file, plus self-employment filing instructions.
• If you are the issuer of a Form 1099, you can order 1099 forms and informational returns via this online portal.

1099
Income Forms

What to Do with Form 1099?

Did you receive a 1099 form for self-employment work? Independent contractor payments? Income from a sale or transaction on a marketplace website? Reporting your 1099 form is simple on the eFile Tax App; read below to see what kinds of income you may receive a 1099 for and how to file taxes with this tax form.

You would get a 1099 form in the mail if you received certain types of income or payments (other than wages, salaries, or tips) during the year. Generally, you will have to report the information from a 1099 on your tax return. We have divided the topic of 1099 forms into three pages:

1. 1099 form types and requirements (this page)
2. How to prepare and file a tax return with a Form 1099
3. How to issue a Form 1099.

We also have a page with instructions for each type of 1099 form.

When you prepare and e-file your income taxes, you can enter income reported on 1099 forms you received and all other taxable income on eFile.com with your IRS and/or state tax returns. You do not have to submit physical forms with your tax return, but keep them with your tax records. Prepare and e-file your taxes by the Tax Day deadline.

Why Did I Receive a 1099?

While a W-2 reports wages, salaries, and tips, a 1099 reports other kinds of income. There are many varieties of 1099 forms, and each one is used to report different, specific types.

In general, as the recipient/payee of the following business income types, the payer should likely issue Form 1099-MISC or 1099-NEC, depending on the contract or agreement, to each person or unincorporated business who has received at least the following payment or income amounts:

If you did not receive a 1099 form when you were supposed to, contact the issuer of the form. They can generally provide more information and/or give you a copy.

You may also want to see 1099 General Instructions.

How to Prepare File a Tax Return with Form 1099 Income?

If you have one or many 1099 form(s), follow these steps:

1. Gather Your Documents: Collect all 1099 forms received, along with other income records (W-2s, receipts, etc.).
2. Determine Your Filing Status: Identify your filing status (e.g., single, married, head of household).
3. Choose Your Tax Form: Depending on your situation, you might use Form 1040 or 1040-SR - eFile will choose this for you.
4. Report Your Income: Enter the income from your 1099 forms on the appropriate lines of your tax return. For self-employment income, you may need to use Schedule C and report your net profit - eFile will walk you through this so you do not need to memorize complicated IRS forms.
5. Deductions and Credits: Claim any eligible deductions (e.g., business expenses if self-employed) and tax credits, all calculated and claimed in your eFile account.
6. Calculate Taxes: Use the IRS tax tables or tax software to determine your tax liability.
7. File Your Return: Submit your completed tax return by the deadline (usually April 15) either electronically or by mail.
8. Keep Records: Save copies of your 1099 forms and tax return for at least three years.

Start a tax return on eFile.com! We will determine the correct forms to use based on your answers to a simple tax interview. Learn about the many benefits of filing your taxes with eFile.com. You may also want to see these instructions to prepare and eFile a tax return with 1099 income.

See an overview of other tax return forms and declaration forms.

What Is the Minimum Amount Reported on a 1099?

This is the amount the payer (employer, organization, etc.) is required to report on a 1099 in order to issue it to you. Since the IRS considers any 1099 payment as taxable income, you are required to report your 1099 payment on your tax return.

For example, if you earned less than $600 as an independent contractor, the payer does not have to send you a 1099-MISC or 1099-NEC, but you generally still have to report the amount as self-employment income. If you sell an item on eBay at a loss, such as selling a used couch for less than you paid for it, you should not be issued a 1099-K.

If you are expecting a 1099 and you do not receive it by January 31, the IRS recommends contacting them at 1-800-829-1040. You will be able to use a substitute form to file your return and you may even still be able to e-file it. However, you should contact the issuer of the form first to find out why you have not received it.

What is Minimum Income to Get a 1099 Forms?

Most 1099 forms are required to be filled out and sent by January 31 and some have minimum reporting requirements. These would be a certain threshold or amount of money that requires that the form be sent. Most of these forms need to be sent for any amount. See the table above for payment and reporting thresholds.

For a full list of 1099 forms, including descriptions and online tax filing instructions, see our 1099 forms and instructions.

These 1099 forms are used for various types of income. You may be sent one by a contactor, creditor, corporation, brokerage, retirement institution, or by the Social Security Administration. As the recipient, you may be an independent contractor or gig worker, retiree, trustee, or a policyholder.

If you get a 1099 form you weren't expecting or received a 1099 you knew about but are unsure of what to do, start free on eFile.com. Review all 1099 instructions and add your forms; eFile will walk you through each section so you do not need to have expert tax knowledge to file your taxes online.

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