taxes? 1099??

[stegomon]

having some one doing my taxes and they are looking for my 1099?? what is a 1099 and where can i get a copy of all of the 1099s? for 2009?

 

[Tpenner93]

IRS tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS) of the United States. They are used to report income and calculate taxes owed to the federal government of the United States.

The best-known of these is form 1040, which is for individual income tax, and is widely filed.

 

[Tpenner93]

http://en.wikipedia.org/wiki/IRS_tax_forms#1099_series

 

[Mac]

Just do a Google on 1099 tax form for way more than you want ot hear or see. The government keeps saying it's going to be real easy to file every year - my butt!
Dave

Form 1099 is a form promulgated by the Internal Revenue Service (IRS) and is used in the United States income tax system to prepare and file an information return to report various types of income other than wages, salaries, and tips (for which Social Security Administration Form W-2 is used instead). The term information return is used in contrast to the term tax return although the latter term is sometimes used colloquially to describe both kinds of returns.

Each payer must complete a 1099 for each covered transaction. Three copies are made: one for the payer, one for the payee, and one for the IRS.

 

[adsm08]

Now for a real answer:

You might not have one. You need to make so much money (somewhere around $12 I think) from gambling, sale of a large item, winning a prize, interest on a bank account, or some other source that isn't job-related, or SSI related to get one. I haven't actually gotten a 1099 for anything in about 3 years.

 

[MrE_Powers]

interest on a banking account needs to be reported even if you do not recieve a 1099int form from the bank if you made more then a dollar.

if a debt is written off and you know it was written off you need to declare it even if you do not recieve the 1099 form for that.

 

[adsm08]

yeah, I haven't made more than 5 or 6 cents on a bank account in the last 3 years. Been in school and had low balances.

 

[Tpenner93]

american taxes sound so difficult.... i walk into my tax shop with one form, walk out with my tax return

 

[Mac]

If you have done any thing like contract work, you should have gotten a 1099-MISC. Any interest (depending on what type) comes on a 1099-DIV form. Way to much for me.
Dave

 

[stegomon]

damn taxes

 

[v-8power]

damn taxes

+1

 

[LearjetMinako]

american taxes sound so difficult.... i walk into my tax shop with one form, walk out with my tax return

Its the government way to make sure that you paid them every dang cent before they release a refund of overpaid taxes. And the government wants all your money. Even if it is babysitting, a simple winning on a scratch off card, or mowing lawns.

 

[naford]

I think what they are looking for is bank or investment income. You should have that information by know. Thats usually what they're looking for.

 

[dhinch279]

The IRS requires companies to fill out 1099misc (miscellaneous income) forms for people or businesses that are paid $600 or more in the year usually for services (cutting grass, construction jobs, etc). You must report any of the income on 1099's.

With 1099int (interest income), that is usually from a bank or investment company and it reports the interest that you have accrued on your bank accounts. Most banks will not send out 1099int forms unless you have made more than $10 in interest for the year.
If you want to be "Dudley Do-Right" you can go down to the bank and they will print one that shows you made $1.04 in the year, but I can guarantee you that the IRS will not come after you for not reporting less than $10, they have much bigger fish to fry. Plus taxes they would have gotten out of your $1.04 wouldn't be worth the postage they sent your warning letter with.

1099Div (Dividend Income) is usually from investment companies. It report the income from the sale of stocks, or if you currently own stocks that pay dividends, then they report how much you recieved from the stocks. So if you don't own stock, don't worry too much about these.

 

[Boghog1]

american taxes sound so difficult.... i walk into my tax shop with one form, walk out with my tax return

That is they way it is with most americans as well. a get a W2 from your employer and fill out a 1040ez in under 10 minutes yourself and get your refund or pay if you dod not have enough deducted from you check. I am sure if you owned a business or received other income that from one employer your taxes would be more difficult