Do you know how many 1099 forms are there to report information returns and what types of payment can be reported using these different types of 1099 forms. If your answer is ‘NO’, then you should read this blog post to understand the 1099 forms and their purpose.
How Many Different Types Of 1099 Forms Are There?
List of different types of 1099 Forms.
- IRS Form 1099-A
- IRS Form 1099-B
- IRS Form 1099-C
- IRS Form 1099-CAP
- IRS Form 1099-DIV
- IRS Form 1099-G
- IRS Form 1099-H
- IRS Form 1099-INT
- IRS Form 1099-K
- IRS Form 1099-LS
- IRS Form 1099-LTC
- IRS Form 1099-MISC
- IRS Form 1099-OID
- IRS From 1099-PATR
- IRS From 1099-Q
- IRS Form 1099-QA
- IRS From 1099-R
- IRS Form 1099-S
- IRS Form 1099-SA
- IRS Form 1099-SB
Related Article: Different Types of 1099 Forms And Their Deadlines
Different Types of 1099 Forms And Their Purpose
Let’s understand the different types of 1099 forms and their purposes.
1) Form 1099-A: What’s The Purpose & What To Report
What is IRS Form 1099-A?
Form 1099-A: Acquisition or Abandonment of Secured Property
What To Report in Form 1099-A?
Form 1099-A is used to report information about the acquisition or abandonment of property that is security for a debt for which you are the lender.
What Amounts To Report in Form 1099-A?
You have to report all amounts about the acquisition or abandonment of property using Form 1099-A.
How To eFile Form 1099-A Online?
You can eFile Form 1099-A Online using our Tax1099 award winning platform.
2) Form 1099-B: What’s The Purpose & What To Report
What is IRS Form 1099-B?
Form 1099-B: Proceeds From Broker and Barter Exchange Transactions
What To Report in Form 1099-B?
Form 1099-B is used to report information about the sales or redemption of securities, futures transactions, commodities, and barter exchange transactions (including payments reported pursuant to an election).
What Amounts To Report in Form 1099-B?
You have to report all amounts about the sales or redemption of securities, futures transactions, commodities, and barter exchange transactions using Form 1099-B.
How To eFile Form 1099-B Online?
You can eFile Form 1099-B Online using our Tax1099 award winning platform.
3) Form 1099-C: What’s The Purpose & What To Report
What is IRS Form 1099-C?
Form 1099-C: Cancellation of Debt
What To Report in Form 1099-C?
Form 1099-C is used to report information about the Cancellation of a debt owed to a financial institution, the federal government, a credit union, RTC, FDIC, NCUA, a military department, the U.S. Postal Service, the Postal Rate Commission, or any organization having a significant trade or business of lending money.
What Amounts To Report in Form 1099-C?
You have to report $600 or more about the cancellation of a debt using Form 1099-C.
How To eFile Form 1099-C Online?
You can eFile Form 1099-C Online using our Tax1099 award winning platform.
4) Form 1099-CAP: What’s The Purpose & What To Report
What is IRS Form 1099-CAP?
Form 1099-CAP: Changes in Corporate Control and Capital Structure
What To Report in Form 1099-CAP?
Form 1099-CAP is used to report information about the information about cash, stock, or other property from an acquisition of control or the substantial change in capital structure of a corporation.
What Amounts To Report in Form 1099-CAP?
You have to report over $1,000 about the changes in corporate control and capital structure using Form 1099-CAP.
5) Form 1099-DIV: What’s The Purpose & What To Report
What is IRS Form 1099-DIV?
Form 1099-DIV: Dividends and Distributions
What To Report in Form 1099-DIV?
Form 1099-DIV is used to report information about the distributions, such as dividends, capital gain distributions, or nontaxable distributions, that were paid on stock and liquidation distributions (including distributions reported pursuant to an election).
What Amounts To Report in Form 1099-DIV?
You have to report $10 or more, except $600 or more for liquidations about the dividends and distributions using Form 1099-DIV.
How To eFile Form 1099-DIV Online?
You can eFile Form 1099-DIV Online using our Tax1099 award winning platform.
6) Form 1099-G: What’s The Purpose & What To Report
What is IRS Form 1099-G?
Form 1099-G: Certain Government Payments
What To Report in Form 1099-G?
Form 1099-G is used to report information about the unemployment compensation, state and local income tax refunds, agricultural payments, and taxable grants.
What Amounts To Report in Form 1099-G?
You have to report $10 or more for refunds and unemployment using Form 1099-G.
How To eFile Form 1099-G Online?
You can eFile Form 1099-G Online using our Tax1099 award winning platform.
7) Form 1099-H: What’s The Purpose & What To Report
What is IRS Form 1099-H?
Form 1099-H: Health Coverage Tax Credit (HCTC) Advance Payments
What To Report in Form 1099-H?
Form 1099-H is used to report information about the health insurance premiums paid on behalf of certain individuals.
What Amounts To Report in Form 1099-H?
You have to report all amounts about health coverage tax credits (HCTC) advance payments using Form 1099-H.
8) Form 1099-INT: What’s The Purpose & What To Report
What is IRS Form 1099-INT?
Form 1099-INT: Interest Income
What To Report in Form 1099-INT?
Form 1099-INT is used to report information about the Interest income (including payments reported pursuant to an election); market discount subject to an election under section 1278(b).
What Amounts To Report in Form 1099-INT?
You have to report $10 or more ($600 or more in some cases) about the interest income using Form 1099-INT.
How To eFile Form 1099-INT Online?
You can eFile Form 1099-INT Online using our Tax1099 award winning platform.
9) Form 1099-K: What’s The Purpose & What To Report
What is IRS Form 1099-K?
Form 1099-K: Payment Card and Third Party Network Transactions
What To Report in Form 1099-K?
Form 1099-K is used to report information about the payment card transactions and third party network transactions.
What Amounts To Report in Form 1099-K?
You have to report all amounts about the payment card transactions and $20,000 or more and 200 or more transactions for third party network transactions using Form 1099-K.
How To eFile Form 1099-K Online?
You can eFile Form 1099-K Online using our Tax1099 award winning platform.
10) Form 1099-LS: What’s The Purpose & What To Report
What is IRS Form 1099-LS?
Form 1099-LS: Reportable Life Insurance Sale
What To Report in Form 1099-LS?
Form 1099-LS is used to report information about the payments made in a reportable policy sale
What Amounts To Report in Form 1099-LS?
You have to report all amounts about the reportable life insurance sale using Form 1099-LS.
11) Form 1099-LTC: What’s The Purpose & What To Report
What is IRS Form 1099-LTC?
Form 1099-LTC: Long-Term Care and Accelerated Death Benefits
What To Report in Form 1099-LTC?
Form 1099-LTC is used to report information about the payments under a long-term care insurance contract and accelerated death benefits paid under a life insurance contract or by a viatical settlement provider.
What Amounts To Report in Form 1099-LTC?
You have to report all amounts about the long-term care and accelerated death benefits using Form 1099-LS.
12) Form 1099-MISC: What’s The Purpose & What To Report
What is IRS Form 1099-MISC?
Form 1099-MISC: Miscellaneous Income (Also, use to report direct sales of $5,000 or more of consumer goods for resale.)
(i) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the Rent or royalty payments; prizes and awards that are not for services, such as winnings on TV or radio shows (including payments reported pursuant to an election).
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more, except $10 or more for royalties about the rent, royalty, prizes and awards using Form 1099-MISC.
(ii) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the payments to crew members by owners or operators of fishing boats including payments of proceeds from sale of catch.
What Amounts To Report in Form 1099-MISC?
You have to report all amounts about the payments to crew members by owners or operators of fishing boats using Form 1099-MISC.
(iii) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the section 409A income from non-qualified deferred compensation plans (NQDCs).
What Amounts To Report in Form 1099-MISC?
You have to report all amounts about the section 409A income using Form 1099-MISC.
(iv) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the payments to a physician, physicians’ corporation, or other supplier of health and medical services. Issued mainly by medical assistance programs or health and accident insurance plans.
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more about the payments to a physician, physicians’ corporation, or other supplier of health and medical services using Form 1099-MISC.
(v) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the payments to a physician, physicians’ corporation, or other supplier of health and medical services. Issued mainly by medical assistance programs or health and accident insurance plans.
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more about the payments to a physician, physicians’ corporation, or other supplier of health and medical services using Form 1099-MISC.
(vi) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the payments for services performed for a trade or business by people not treated as its employees (including payments r reported pursuant to an election).
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more about the payments for services performed for a trade or business by people not treated as its employees using Form 1099-MISC.
(vii) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the fish purchases paid in cash for resale.
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more about the fish purchases paid in cash for resale using Form 1099-MISC.
(viii) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the crop insurance proceeds.
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more about the crop insurance proceeds using Form 1099-MISC.
(ix) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the substitute dividends and tax-exempt interest payments reportable by brokers.
What Amounts To Report in Form 1099-MISC?
You have to report $10 or more about the substitute dividends and tax-exempt interest payments reportable by brokers using Form 1099-MISC.
(x) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about the gross proceeds paid to attorneys.
What Amounts To Report in Form 1099-MISC?
You have to report $600 or more about the gross proceeds paid to attorneys using Form 1099-MISC.
(xi) What To Report in Form 1099-MISC?
Form 1099-MISC is used to report information about A U.S. account for Chapter 4 purposes to which you made no payments during the year that are reportable on any applicable Form 1099 (or a U.S. account to which you made payments during the year that do not reach the applicable reporting threshold for any applicable Form 1099) reported pursuant to an election.
What Amounts To Report in Form 1099-MISC?
You have to report all amounts (including $0) about the Chapter 4 purposes using Form 1099-MISC.
How To eFile Form 1099-MISC Online?
You can eFile Form 1099-MISC Online using our Tax1099 award winning platform.
13) Form 1099-OID: What’s The Purpose & What To Report
What is IRS Form 1099-OID?
Form 1099-OID: Original Issue Discount
What To Report in Form 1099-OID?
Form 1099-OID is used to report information about the original issue discount (including amounts reported pursuant to an election; market discount subject to an election under section 1278(b).
What Amounts To Report in Form 1099-OID?
You have to report $600 or more, except $10 or more for the original issue discount using Form 1099-OID.
How To eFile Form 1099-OID Online?
You can eFile Form 1099-OID Online using our Tax1099 award winning platform.
14) Form 1099-PATR: What’s The Purpose & What To Report
What is IRS Form 1099-PATR?
Form 1099-PATR: Taxable Distributions Received From Cooperatives
What To Report in Form 1099-PATR?
Form 1099-PATR is used to report information about the distributions from cooperatives passed through to their patrons including any domestic production activities deduction and certain pass-through c credits.
What Amounts To Report in Form 1099-PATR?
You have to report $10 or more for the taxable distributions received from cooperatives using Form 1099-PATR.
How To eFile Form 1099-PATR Online?
You can eFile Form 1099-PATR Online using our Tax1099 award winning platform.
15) Form 1099-Q: What’s The Purpose & What To Report
What is IRS Form 1099-Q?
Form 1099-Q: Payments From Qualified Education Programs (Under Sections 529 and 530)
What To Report in Form 1099-Q?
Form 1099-Q is used to report information about the earnings from qualified tuition programs and Coverdell ESAs.
What Amounts To Report in Form 1099-Q?
You have to report all amounts of the qualified tuition programs using Form 1099-Q.
16) Form 1099-QA: What’s The Purpose & What To Report
What is IRS Form 1099-QA?
Form 1099-QA: Distributions From ABLE Accounts
What To Report in Form 1099-QA?
Form 1099-QA is used to report information about the Distributions from ABLE accounts.
What Amounts To Report in Form 1099-QA?
You have to report all amounts of the distributions from ABLE accounts using Form 1099-QA.
17) Form 1099-R: What’s The Purpose & What To Report
What is IRS Form 1099-R?
Form 1099-R: Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
What To Report in Form 1099-R?
Form 1099-R is used to report information about the Distributions from retirement or profit-sharing plans, any IRA, insurance contracts, and IRA recharacterizations (including payments reported pursuant to an election described)
What Amounts To Report in Form 1099-R?
You have to report $10 or more of the distributions from retirement or profit-sharing plans using Form 1099-R.
How To eFile Form 1099-R Online?
You can eFile Form 1099-R Online using our Tax1099 award winning platform.
18) Form 1099-S: What’s The Purpose & What To Report
What is IRS Form 1099-S?
Form 1099-S: Proceeds From Real Estate Transactions
What To Report in Form 1099-S?
Form 1099-S is used to report information about the gross proceeds from the sale or exchange of real estate and certain royalty payments.
What Amounts To Report in Form 1099-S?
You have to report generally, $600 or more of the proceeds from real estate transactions using Form 1099-S.
How To eFile Form 1099-S Online?
You can eFile Form 1099-S Online using our Tax1099 award winning platform.
19) Form 1099-SA: What’s The Purpose & What To Report
What is IRS Form 1099-SA?
Form 1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA
What To Report in Form 1099-SA?
Form 1099-SA is used to report information about the distributions from an HSA, Archer MSA, or Medicare Advantage MSA.
What Amounts To Report in Form 1099-SA?
You have to report all amounts of the distributions from an HSA, Archer MSA using Form 1099-SB.
20) Form 1099-SB: What’s The Purpose & What To Report
What is IRS Form 1099-SB?
Form 1099-SB: Seller’s Investment in Life Insurance Contract
What To Report in Form 1099-SB?
Form 1099-SB is used to report information about the seller’s investment in a life insurance contract as determined by the issuer.
What Amounts To Report in Form 1099-SB?
You have to report all amounts of the seller’s investment in a life insurance contract using Form 1099-SB.
For more information on 1099 forms and eFiling requirements, visit Tax1099.com