The many versions of IRS Form 1099
Monday, January 30, 2017
Reviewed Sept. 23, 2023
UPDATE, Dec. 23, 2022: The reporting triggers for Form 1099-K were revised as part of the COVID-19 prompted American Rescue Plan Act (ARPA). Previously, the reporting level was more than 200 transactions per year that exceeded an aggregate amount of $20,000 in earnings. ARPA reduced the 1099-K issuance requirement to just $600 in earnings. Period. For any number of transactions. The IRS delayed the implementation of the change until tax year 2023.
UPDATE, Jan. 30, 2021: This post and table now includes Form 1099-NEC. Last used in 1982, beginning with the 2021 tax filing season, the 1099-NEC replaces 1099-MISC used to report compensation to individuals who are not employees. The 1099-MISC remains for reporting other types of payments.
Jan. 31 is a key annual tax deadline. It’s the date employers must send W-2 and 1099-MISC forms to folks who received at least $600 in compensation the preceding tax year.
Jan. 31 also now is the deadline for employers to also submit that W-2 and 1099-MISC data to the Social Security Administration (SSA).
Earlier reporting to fight fraud: In past years, employers had another month to get the data to Social Security. But in an effort to help the Internal Revenue Service fight tax refund fraud, a provision in the Protecting Americans from Tax Hikes, or PATH, Act now requires businesses to transmit the payment information to the SSA at the same time it sends it out to workers instead of by the end of February.
That will make it easier for the IRS to more quickly confirm that the payment info entered on tax returns is correct. In the past, the IRS simply had to take taxpayers' words for the income entry.
If the IRS later found a discrepancy in the income amounts when it checked the official SSA data, then the tax collector had to follow up with taxpayers.
Or in the case of fake returns filed in order to get fraudulent refunds, eat the money that was erroneously sent out to crooks.
By having the data in employee and SSA/IRS hands simultaneously, refund fraud should at least be slowed.
Other 1099s: New for the 2021 filing season is Form 1099-NEC. Actually, it is an old form that was resurrected to go to contractors or others who in 2020 got nonemployee compensation, hence the NEC notation.
The 1099-NEC now goes to contractors who used to get Form 1099-MISC. The MISC now is sent to from sundry amounts, such as royalties or broker payments; rents; prizes and awards; medical and health care payments; crop insurance proceeds; cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish; and any fishing boat proceeds. The amount that triggers the 1099-MISC depends on the type of payment; the IRS elaborates at a special IRS.gov page.
Those two 1099s are just a pair of the many variations of Form 1099. The table below shows other common 1099 forms' name and description, as well as what triggers its issuance and when the form is supposed to be supplied to you.
| Form Name and Title |
Amount(s) to Report |
Form Due to Recipient |
| 1099-A Acquisition or Abandonment of Secured Property |
All amounts | Jan. 31 |
| 1099-B Proceeds From Broker and Barter Exchange Transactions |
All amounts | Feb. 15 |
| 1099-C Cancellation of Debt |
$600 or more | Jan. 31 |
| 1099-CAP Changes in Corporate Control and Capital Structure |
More than $1,000 | Jan. 31 |
| 1099-DIV Dividends and Distributions |
$10 or more; $600 or more for liquidations |
Jan. 31 |
| 1099-G Certain Government Payments |
$10 or more for refunds and unemployment benefits |
Jan. 31 |
| 1099-INT Interest Income |
$10 or more in most cases |
Jan. 31 |
| 1099-K Payment Card and Third-Party Network Transactions |
A third-party settlement organization (TPSO) must report payments in settlement of third-party network transactions for any payee that exceed a minimum threshold of $600 in aggregate payments, regardless of the aggregate number of such transactions. | Jan. 31 |
| 1099-LTC Long-Term Care and Accelerated Death Benefits |
All amounts | Jan. 31 |
| 1099-MISC Miscellaneous Income (includes rents received, prizes and awards, and payments to an attorney) |
$600 or more for compensation; $10 or more for royalties |
Jan. 31 |
| 1099-NEC Nonemployee Compensation (includes fees, commissions, and other forms of compensation for services) |
$600 or more for compensation |
Jan. 31 |
| 1099-OID Original Issue Discount |
$10 or more | Jan. 31 |
| 1099-PATR Taxable Distributions Received From Cooperatives |
$10 or more | Jan. 31 |
| 1099-Q Payments From Qualified Education Programs |
All amounts | Jan. 31 |
| 1099-QA Distributions from ABLE Accounts |
All amounts | Jan. 31 |
| 1099-R Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. |
$10 or more | Jan. 31 |
| 1099-S Proceeds From Real Estate Transactions |
$600 or more | Feb. 15 |
| 1099-SA Distributions From an HSA, Archer MSA, or Medicare Advantage MSA |
All amounts | Jan. 31 |
You can find more details on 1099s and other tax forms in the IRS Publication of General Instructions for Certain Information Returns.
And be on the lookout for all your annual tax statements.
You also might find these related posts of interest:
- Tax documents you'll need to file your 2022 return
- Report all your income even if you don't get a 1099 form
- 2023 tax filing questions to answer before your fill out your return
- Which form applies when? Find out in the Tax Forms 2023 collection
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