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A 1099 tax form is a statement that details an amount of money that you were paid. Learn about this important tax document and the different 1099 versions.
Dividends paid by C corporations will be reported to shareholders using Form 1099-DIV. The C corporation will also send a copy of the form listing dividends to the IRS and other income tax ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
For a variety of reasons some Form 1099 reports may include amounts that are not actually taxable to the payee. A typical example is Form 1099-S for reporting proceeds (not gain) from real estate transactions. The Form 1099-S preparer will report the sales proceeds without regard to the amount of the taxpayer's "basis" in the real estate sold.
A C corporation is distinguished from an S corporation, which generally is not taxed separately. Many companies, including most major corporations, are treated as C corporations for U.S. federal income tax purposes. C corporations and S corporations both enjoy limited liability, but only C corporations are subject to corporate income taxation. [1]
Like other official tax forms, Form 1099-R follows a standardized format. Entities that fill out this form are required to include certain pieces of information. And that starts with your name ...