What are the different types of 1099 forms?
1099 forms report income you earned outside of traditional employment. Unlike a W-2, these forms usually don’t show taxes withheld.
You may receive one or more 1099s depending on how you made money during the year.
Common types of 1099 forms
1099-NEC (Nonemployee Compensation)
You’ll usually receive a 1099-NEC if:
You’re self-employed, freelance, or a gig worker, and
A business paid you $600 or more for services
This form reports income earned as a nonemployee.
1099-K
A 1099-K reports payments you received through third-party platforms like PayPal, Venmo, or Stripe.
For tax year 2025, you’ll generally receive this form if you received more than $5,000 in payments.
Even if you don’t receive a 1099-K, you’re still required to report all income you earned.
1099-MISC
A 1099-MISC reports other types of income, including:
Rent
Prizes and awards
Royalties (over $10)
Certain other payments
Investment-related 1099 forms
You may receive these if you earned investment income:
1099-INT — interest income
1099-DIV — dividends and capital gain distributions
1099-B — sales of stocks or securities
1099-OID — original issue discount income
What’s a consolidated 1099?
Some brokerages send a consolidated 1099, which combines multiple 1099 forms into one statement.
These are typically sent by February 15, 2025.
Retirement and benefits 1099 forms
You may also receive:
1099-R — retirement plan distributions
SSA-1099 — Social Security benefits
1099-G — unemployment or state tax refunds
1099-SA — HSA or MSA distributions
Other 1099 forms you might see
W-2G — gambling winnings over IRS thresholds
1099-C — canceled or forgiven debt
Canceled debt is usually taxable, but there are exceptions depending on your situation.
Didn’t get a 1099?
If you’re missing a form:
Contact the issuer or platform directly
Check your online account portals
Request a Wage and Income Transcript from the IRS once it’s available
Key takeaway
1099 forms report income that wasn’t earned as an employee. You may receive several types, and you’re required to report the income even if a form never arrives.
This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.
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