Form 1099 Reporting Requirements

1099 forms are considered by the IRS to be informational returns. These forms are not to report income but to report types of payments that have been made. Companies must file these forms with the IRS as well as providing a copy to the person/s that have received the payments. The recipient of the 1099 is responsible in reporting the amounts as income on his 1040.

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Types of Form 1099

1099-A: acquisition or Abandonment of Secured Property

1099-B: Proceeds from Broker and Barter Exchange Transactions

1099-C: Cancellation of Debt

1099-CAP: Changes in Corporate Control and Capital Structure

1099-DIV: Dividends and Distributions

1099-G: Government Payments

1099-H: Health Insurance Advance Payments

1099-INT: Interest Income

1099-LTC: Long Term Care Benefits

1099-MISC: Miscellaneous Income

1099-OID: Original Issue Discount

1099-PATR: Taxable Distributions Received From Cooperatives

1099-Q: Payment from Qualified Education Programs

1099-R: Distributions from Pensions, Annuities, Retirement Plans, IRAs, or
Insurance Contracts

1099-S: Proceeds from Real Estate Transactions

1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA

1042-S: Foreign Person’s U.S. Source Income

SSA-1099: Social Security Benefit Statement

SSA-1042S: Social Security Benefit Statement to Nonresident Aliens

RRB-1099: Payments by the Railroad Retirement Board

RRB-1099R: Pension and Annuity Income by the Railroad Retirement Board

RRB-1042S: Payments by the Railroad Retirement Board to Nonresident Aliens

W-2G: Certain Gambling Winnings

Summary of 1099 forms including types of amounts to report and due dates

        Due Date
Title What to Report Amounts to Report To IRS To Recipient(unless indicated otherwise)
1042-S Foreign Person’s U.S. Source Income Subject to Withholding Income such as interest, dividends, royalties, pensions and annuities, etc., and amounts withheld under Chapter 3. Also, distributions
effectively connected income by publicly traded partnerships or nominees.
See form instructions March 15 March 15
1098 Mortgage Interest Statement Mortgage interest (including points) and certain mortgage insurance premiums you received in the course of your trade or business
individuals and reimbursements of overpaid interest.
$600 or more February 28* (To Payer/Borrower)January 31
1098-C Contributions of Motor Vehicles, Boats, and Airplanes Information regarding a donated motor vehicle, boat, or airplane. Gross proceeds of more than $500 February 28* (To Donor)30 days from date of sale or contribution
1098-E Student Loan Interest Statement Student loan interest received in the course of your trade or business. $600 or more February 28* January 31
1098-T Tuition Statement Qualified tuition and related expenses, reimbursements or refunds, and scholarships or grants (optional). See instructions February 28* January 31
1099-A Acquisition or Abandonment of Secured Property Information about the acquisition or abandonment of property that is security for a debt for which you are the lender. All amounts February 28* (To Borrower) January 31
1099-B Proceeds From Broker and Barter Exchange Transactions Sales or redemptions of securities, futures transactions, commodities, and barter exchange transactions. All amounts February 28* January 31**
1099-C Cancellation of Debt 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.
$600 or more February 28* January 31
1099-CAP Changes in Corporate Control and Capital Structure Information about cash, stock, or other property from an acquisition of control or the substantial change in capital structure
of a
Amounts of stock or property valued at $100 million or more February 28* (To Shareholders) January 31
1099-DIV Dividends and Distributions Distributions, such as dividends, capital gain distributions, or nontaxable distributions, that were paid on stock and liquidation
$10 or more, except $600 or more for liquidations February 28* January 31**
1099-G Certain Government Payments Unemployment compensation, state and local income tax refunds, agricultural payments, and taxable grants. $10 or more for refunds and unemployment February 28* January 31
1099-H Health Coverage Tax Credit (HCTC) Advance Payments Health insurance premiums paid on behalf of certain individuals. All amounts February 28* January 31
1099-INT Interest Income Interest income. $10 or more ($600 or more in some cases) February 28* January 31**
1099-LTC Long-Term Care and Accelerated Death Benefits Payments under a long-term care insurance contract and accelerated death benefits paid under a life insurance contract or
by a viatical
settlement provider.
All amounts February 28* January 31
1099-MISC Miscellaneous Income
(use our 1099 MISC software to
efile and print 1099 MISC forms
Rent or royalty payments; prizes and awards that are not for services, such as winnings on TV or radio shows. $600 or more, except $10 or more for royalties February 28* January 31**
  (Also, use to report direct sales of $5,000 or more of consumer goods for resale.) Payments to crew members by owners or operators of fishing boats including payments of proceeds from sale of catch. All amounts
    Section 409A deferrals and income from nonqualified deferred compensation plans. All amounts($600 or more if deferrals)
    Payments to a physician, physicians’ corporation, or other supplier of health and medical services. Issued mainly by medical
programs or health and accident insurance plans.
$600 or more
    Payments for services performed for a trade or business by people not treated as its employees. Examples: fees to subcontractors
or directors
and golden parachute payments.
$600 or more
    Fish purchases paid in cash for resale. $600 or more
    Substitute dividends and tax-exempt interest payments reportable by brokers. $10 or more
    Crop insurance proceeds. $600 or more
    Gross proceeds paid to attorneys. $600 or more
1099-OID Original Issue Discount Original issue discount. $10 or more February 28* January 31**
1099-PATR Taxable Distributions Received From Cooperatives Distributions from cooperatives passed through to their patrons including any domestic production activities deduction and
certain pass-through
$10 or more February 28* January 31
*The due date is March 31 if filed electronically.**The due date is March 15 for reporting by
trustees and middlemen of WHFITs.


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