Tag Archives for " 1099 "



  • W-2: This is the form you receive from a reg­u­lar employ­er. This form includes infor­ma­tion about your wages and oth­er earn­ings (includ­ing tips, if applic­a­ble). This form also includes infor­ma­tion about how much you have paid in fed­er­al and state tax­es over the course of the year, as well as your pay­roll tax­es.
  • 1099-KIf you earned income as a free­lancer work­ing in the on-demand econ­o­my like Uber or Lyft you may see this form. Form 1099-K reports income processed through third-par­ty net­works, such as Pay­Pal. A pay­ment proces­sor must report income to the IRS using Form 1099-K if your gross pay­ments:
    • Exceed $20,000, AND
    • Exceed 200 trans­ac­tions with­in the tax year
  • 1099-MISC: More and more peo­ple do con­tract work on the side, as free­lancers and con­sul­tants. If you have received earn­ings from such activ­i­ties you can expect to receive a 1099-MISC.
  • Oth­er 1099 forms: The 1099-MISC isn’t the only 1099 form you might receive. If you received inter­est from sav­ings or invest­ments, you will get a 1099-INT. You might also receive 1099-DIV report­ing div­i­dends and dis­tri­b­u­tions from invest­ments, or a 1099-C if you have can­celed debt.
  • 1098: This is the form asso­ci­at­ed with mort­gage inter­est you have paid dur­ing the year. If you item­ize your deduc­tions, this form can be extreme­ly help­ful in ensur­ing that you get the right amount list­ed.