How to Prepare, File a Tax Return with a 1099
We have divided the topic of 1099 forms up into three pages:
- 1099 Form Types and Requirements
- How to Prepare and File a Tax Return with a Form 1099
- How to Issue a Form 1099
Ok, here's the situation: it's tax time, and you are going through all the tax documents you received in the mail. You come across a Form 1099. When you prepare and e-File your 2019 Tax Return on eFile.com, the eFile app will guide you through entering your 1099 form information based on your answers to several questions about your life situation. However, if you want to find out what a 1099 is and what to do with it, review the following sections:
What is Form 1099
Form 1099 is a tax form that is used to report income that you received, and which you need to report on your tax return. The payer sends the proper 1099 to the IRS, and a copy of the form to you. There are many different kinds of 1099 forms. Each 1099 is designated by one or more letters (such as 1099-K or 1099-MISC), and each one is used to report different types of income. See descriptions of each 1099 form.
When you prepare your tax return, you will need to report all of the taxable income you have received during the tax year. Income information is provided to you on various forms, such as a W-2 or a 1099. A W-2 reports income you earned as an employee, but many other types of income are reported on a 1099 form. If you have income reported on a 1099, you won't have to worry about what forms to fill out and where to enter your 1099 numbers on eFile.com. The eFile app will select the correct tax forms for you and help you fill them out. It will also do all the math and enter your income in the right lines of your 1040 Tax Return.
How to Enter 1099 Information on eFile.com
Note: The instructions below contain images and are not interactive.
1. Log into your eFile.com account and click "Federal Taxes" on the left menu.
2. Click "Review" on the left menu below the "Federal Taxes" heading.
3. Click the "I'd like to see all federal forms" link to find a list of federal tax forms.
4. Scroll down to the "Search for federal forms" search box and enter 1099 in the box.
5. View the list of 1099 forms below the search box and click the "Add form" button next to the form name you have.
Here are the 1099 forms we currently have on eFile.com:
- 1099-B - Stock Transactions and Sale of Assets
- 1099-C - Debt Cancelation
- 1099-DIV - Dividend Income
- 1099-G - Unemployment, Tax Refunds and Other Government Payments
- 1099-INT - Interest Earned
- 1099-MISC - Miscellaneous Income
- 1099-OID - Interest Income - Schedule B
- PATR - Form 1099 Patronage
- 1099-R - Pensions and Retirement Plan Withdrawals
- 1099-RRB - Railroad Retirement Benefits
- 1099-SSA - Social Security
- 4852-Substitute for Form W-2/1099-R
- 8889 - Health Savings Accounts (complete form using 1099-SA info)
6. Enter the information from your paper form in the corresponding spaces on the 1099 form screen. See the "Help" box on the upper right of the screen for more information about each entry.
7. Click the green "Save" button at the bottom of the 1099 screen when it's completed.
NOTE: A few of the less common 1099 forms do not have separate entry screens and the information must be entered directly on another form. eFile.com will present you with the correct forms based on your answers to a series of "yes" or "no" questions. If you do not know where to enter something, or if you have any trouble at all, please contact support.
What to Do If There is No 1099
It is possible that you were paid such a small amount that the payer is not required to issue you a 1099. Regardless, you are still required to report any taxable income you received. You can enter the information on the appropriate 1099 screen even if you do not have an actual paper form.
If you should have been sent a 1099 but were not, you can generally use Form 4852 as a substitute. You can prepare and e-File this form on eFile.com. However, you should report the missing form to the IRS and ask for their guidance on how to proceed. You can call IRS taxpayer assistance at 1-800-829-1040. If you need any further assistance with preparing and e-filing your tax return with 1099 information, contact eFile.com support.
More Form 1099 Information