Form 1099 is used for several Information
Returns in the United States. A number of 1099 Forms is provided by the Internal Revenue Service. If you are staying in the United States, then you need to know each and every Form details. And, you have to select the Form, which is suitable for you? Choose the exact return Form and fill with the required details and then send the Filled 1099 Form copy to the IRS.
There is plenty of Tax Return Forms are available. Each Information Return Form contains different types of payments. They are
1.1099 â A
2. 1099 â B
3. 1099 â C
4. 1099 â CAP
5. 1099 â DIV
6. 1099 â G
7. 1099 â H
8. 1099 â INT
9. 1099 â K
10. 1099 â LTC
11. 1099 â MISC
12. 1099 â OID
13. 1099 â PATR
14. 1099 â Q
15. 1099 â R
16. 1099 â SA
Let us go through with these Forms.
1.1099 â A:
The 1099 - A Form is used for an Acquisition or Abandonment of Secured Property. If you paid any amount for the secured property, then you need to File 1099- A Form. And, the IRS provided Due to File 1099 â A and send the copy to the recipient before the 31st January. Send the E File 1099 A Copy to the IRS before the end of the February.
2. 1099 â B:
For the Barter Exchange Transactions, File 1099 â B Form and submit the copy to the IRS before the end of the February every year. The IRS 1099 â B Due Date to send the copy to the recipient is before the 15th February.
3. 1099 â C:
Form 1099 â C is used for the Cancellation of Debt. That means File 1099 âC for whom you cancelled the debt. Due Date for the 1099 â C filing and to send the copy to the receiver is 31st January every year. After filling the 1099 â C Form, submit the copy to the IRS before the end of the February. And, make sure here the cancellation amount must be equal to or more than 600$.
4. 1099 â CAP:
If any changes occurred in corporate control and capital signature, then File 1099 â CAP Form. And, here the minimum amount to File 1099 â CAP is 100$ Million. If you are a corporate, then File 1099- CAP and send the filled copy to the recipient before the 31st January. The Due Date to send the E file 1099 âCAP to the IRS is the end of the February every year.
5. 1099 â DIV:
Form 1099 â DIV is used for dividends and distributions. If you receive 10$ or more than 10$ amount for distribution, you need to File 1099 â DIV. 1099 â DIV Form is issued by the investment fund company. The 1099 â DIV Due Date to send the Filled copy to the recipient is 31st January. To send IRS is the end of February. If you miss the due date, you need to pay the penalty charges.
6. 1099 â G:
If you made any government payments within the year, then you can use the 1099 â G form to report your payment to the IRS. But the payment must be more than or equal to the 10$. The 1099 â G Form is issued by the government agency.
7. 1099 â H:
If any Health Insurance Payments are made by you within the year, then you have to File 1099 â H Form. And, before the 1099- H Due Date, you must send the Filled 1099 â H copy to the IRS and the recipient. The Due Date to send recipient is before the 31st January and to submit to the IRS is Last day of the February.
8. 1099 â INT:
The Form 1099 â INT is used for the financial institutions. That means if the financial institutions are given the money to you for interest, then the institutions must File 1099 â INT Form. And, report the Form to the Internal Revenue Service. Here, the minimum amount is 10$.
9. 1099- K:
If you have a business, then you can File 1099 â K Form or if you made more than 200 transactions during the year, then the 1099 - K Form is used to report it to the IRS.
10. 1099 â LTC:
Form 1099 â LTS is issued by the insurance company. This Form is used in long term care benefits. That means if you made any payment for the long term care benefits during the year, then you have to File 1099 â LTC.
11. 1099 â MISC:
To report your Miscellaneous income to the IRS, you have to File 1099 MISC Form. And, send the E File 1099 MISC Form to the IRS before the 1st April. If you are following the paper filing method, you can send the filled copy to the IRS at the end of February.
12. 1099 â PATR:
If the taxable distributions received from the cooperatives, then use the 1099 PATR Form to report your income to the IRS. The Form 1099 â PATR is issued by the cooperatives.
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Article Added on Thursday, October 31, 2019
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