What type of 1099 forms are there

If you have an account at a brokerage or mutual fund company, any Form B you receive might report:. You need this Form B information when preparing your return:. Some firms also provide information about the cost basis of the asset sold.

You can use this information on Form Brokers and mutual-fund companies are required to:. For securities bought before , firms can choose if they want to include the cost basis on Form B. You need this DIV information when preparing your return:. Form INT is for reporting interest income received.

You need this INT information when preparing your return:. Some you may not even be aware of. Find more tax deductions so you can keep more of the money you earn with TurboTax Self-Employed. The Self-Employment Tax. Claiming the Foreign Tax Credit with Form What is the IRS Form ? Estimate your tax refund and where you stand Get started.

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Brokers or mutual fund companies must file this form when you sell stock. It shows the amount and date of the sale, and provides cost basis information. This form is used to report unemployment compensation, state and local income tax refunds, agricultural payments, and taxable grants. Be sure to save all information returns you receive. Most need not be filed with your tax return, but there are exceptions. If you have a tax preparer, give him or her all your information returns.

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Grow Your Legal Practice. Meet the Editors. A form is a record of income. All kinds of people can get a form for different reasons. The form reflects the money the client has paid the freelancer or independent contractor. Check out some tax deductions that could offset some of that income. You might have deductions that offset the income, for example, or some or all of it might be sheltered based on characteristics of the asset that generated it.

In any case, remember: The IRS knows about it. The phrase " employee" generally describes a person who, in the eyes of the IRS, is an independent contractor, also called self-employed or a freelancer. A is thus not the same as a W-2 , which reports income paid to employees. If you get a from your employer, that's a sign that your employer sees you as an independent contractor rather than an employee. Workplaces aren't the only entities that may send you a , though.

There are several kinds of tax forms you can see all the details from the IRS here. The IRS refers to them as "information returns. You might receive one Form A if your mortgage lender canceled some or all of your mortgage, or you were involved in a short sale of your home. Form B covers income from the sale of several types of securities, as well as some types of bartering that take place via bartering exchanges, typically websites. A isn't usually required if you barter with someone directly, though you may have to report the income.