Some 1099 Money Isn’t Taxable There are some situations in which money reported on a 1099 form is not taxable, so you’ll need to be careful when you put the numbers in your return.

You'll receive a 1099-K form if you use a third-party payment service, such as PayPal, Venmo or CashApp, to receive freelance income and you earned $5,000 or more via these platforms in 2024.

If you get a Form 1099-K this year, “the No. 1 thing is, do not ignore it,” said Tom O’Saben, director of tax content and government relations with the National Association of Tax Professionals.

Form 1099-G is used to report unemployment compensation or other certain government payments, such as refunds on state or local taxes, taxable grants or payments from the Department of Agriculture.

If you receive the form incorrectly, you can ask the provider for an amended 1099-K with your explanation of what is wrong. You can also just enter the correct amount on your 1040’s Schedule 1.

Form 1099-SB is filed after 1099-LS (sale or transfer of a life insurance policy) has occurred. While the latter documents the purchase, 1099-SB documents the cost basis for the life insurance.

In other words, whether or not you receive a Form 1099-K (or any other documentation) from the person or entity that paid you money, you are still required to report that income to the Federal ...

The 1099-G serves as a crucial document in this process. To swiftly obtain their form, users are advised to simply select the “View and Print 1099" option on the UInteract website and choose the ...

There are several types of IRS 1099 forms, including 1099-A, 1099-B, 1099-C and 1099-K. For example, brokers must file Form 1099-B for each individual for whom they sold stocks, commodities and ...

The most recent draft of the form that brokers will use to report certain 2025 transactions involving the sale or exchange of digital assets reflects the final regulations (T.D. 10000) for custodial ...