INSIGHTS
Which Form 1099 Should I File?
ARTICLE | Revised October 22, 2024
The Internal Revenue Service requires that an information return called a Form 1099 be filed each year to report certain business transactions. There are a number of Forms 1099 to choose from, and selecting the correct one can be tricky. The following information describes what is reported on and when each is due. Please contact us for questions about or assistance with completing the appropriate Forms 1099. For more detailed information about the frequently used Form 1099-MISC and 1099-NEC, please see our companion article, Key Facts About Form 1099-MISC and 1099-NEC.
| FORM | TITLE | WHAT TO REPORT | AMOUNT OF REPORT | DUE DATES |
|---|---|---|---|---|
| 1099-A | Acquisition or Abandonment of Secured Property | Information about the acquisition or abandonment of property that is a security for a debt for which you are the lender | All Amounts |
To Recipient: Jan. 31 |
| 1099-B | Proceeds from Broker and Barter Exchange Transactions | Sales or redemptions of securities, futures transactions, commodities and barter exchange transactions | All Amounts |
To Recipient: Feb. 15 |
| 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 corporation | Amounts of stock or property valued at $1,000 or more |
To Recipient: Jan. 31 |
| 1099-DIV | Dividends and Distributions | Distributions, such as dividends, capital gain distributions or nontaxable distributions, that were paid on stock and liquidation distributions | $10 or more, except $600 or more for liquidations |
To Recipient: Jan. 31 |
| 1099-H | Health Coverage Tax Credit Advance Payments | Health insurance premiums paid on behalf of certain individuals | All Amounts |
To Recipient: Jan. 31 |
| 1099-INT | Interest Income | Interest Income | $10 or more ($600 or more in some cases) |
To Recipient: Jan. 31 |
| 1099-K | Merchant Card and Third Party Network Payments | Payments made with a credit card, debit card or third party network player |
Third party settlement organizations: All amounts over $600 Merchant entities: All Amounts |
To Recipient: Jan. 31 |
| 1099-LTC | Long-Term Health and Accelerated Death Benefits | Payments under a long-term care insurance contract and accelerated death benefits paid under a life insurance contract or be a viatical settlement provider | All Amounts |
To Recipient: Jan. 31 |
| 1099-MISC | Miscellaneous Income | Rent or royalty payments; prizes and awards that are not for services; medical payments; gross proceeds paid to attorneys; and fish purchases paid in cash for resale | In general, $600 or more, *some exceptions apply |
To Recipient: Jan. 31 To IRS: Feb. 28 |
| 1099-NEC | Non-employee Compensation | Payments for services performed for a trade or business by people not treated as its employees. Examples: fees to subcontractors, legal & professional services, advertising, custom work, management fees, etc. | $600 or more |
To Recipient: Jan. 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 credits | $10 or more |
To Recipient: Jan. 31 |
| 1099-R | Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. | Distributions from retirement or profit-sharing plans, any IRA, insurance contracts, and IRA recharacterizations | $10 or more |
To Recipient: Jan. 31 |
| 1099-S | Proceeds From Real Estate Transactions | Gross proceeds from the sale or exchange of real estate and certain royalty payments | Generally, $600 or more |
To Recipient: Feb. 15 |
| 1099-SA | Distributions From an HSA, Archer MSA, or Medicare Advantage MSA | Distributions from an HSA, Archer MSA or Medicare Advantage MSA | All Amounts |
To Recipient: Jan. 31 |
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