Comments on: What is a 1099 Form?

By: Fagirl

Fagirl — Thu, 11 Apr 2013 21:45:31 +0000

I did some holiday seasonal work for the month of Dec 2012 none for 2013 – when I requested a 1099 from the guy I worked for he said they run on a fiscal year and that I wouldn’t need to file those taxes until 2014 and I would receive a 1099 in January 2014- I am so confused and I don;t know how to proceed ..can anyone help me

By: Kathy Nalon

Kathy Nalon — Sun, 07 Apr 2013 19:57:44 +0000

Do I pay income tax on trust distribution income from a settled estate? (received a 1099 misc.)

The trust was included in the estate tax return and taxes were paid when the estate was settled last year. Why do I have to pay taxes again on the distribution income?

By: Tee

Tee — Mon, 01 Apr 2013 15:26:08 +0000

I have a booth at an antique store. The owner collects sales tax on all purchases and says they will send me a 1099 at the first of the year. Why would they send me a 1099? I am not employed by the store – only a reseller. BTW, I didn’t get one this year like they said.

I know I owe taxes on the monies earned (minus my costs) but is there anything I should fill out on my 1040? What form?

By: David Serrano

David Serrano — Fri, 22 Mar 2013 23:22:38 +0000

I’m 73 yrs. old and my wife is 70 yrs. old this year. We have been receiving 1099 -R from our pensions (we each have two). I’m using TurboTax (TT) and this year when I entered my two 1099-R’s TT asked if this was a Minimum Required Distribution (MRD) because I am over 70 and 1/2. If I answer yes it asks if the amount is part or all of the MRD.

I answered this question correctly for the 1099 – R from my Fidelity 403b because the give me the MRD for my first withdrawal, but I not sure how to answer the question for my pensions. What is the effect if I answer No?

By: Patricia C

Patricia C — Mon, 11 Mar 2013 16:45:01 +0000

I wrote a children’s book which is due to be published THIS year,, but I paid an illustrator in 2012. Do I have to issue him a 1099 MISC? (and he’s in Canada, does that make a difference?)

By: Ell Kelly

Ell Kelly — Mon, 11 Mar 2013 11:56:00 +0000

Where do I enter information from a 1099-CAP in Turbo Tax? I have been through it and cannot locate anywhere it asks for that particular 1099.

By: Erin

Erin — Wed, 06 Mar 2013 16:31:04 +0000

How will a 1099c affect my taxes for the following year. I am thinking of settling a debt of 6000 dollars by paying it off for 2500 dollars. Is that a good idea or will that hurt me in the long run to pay off this debt because they say they must tell me that a possible 1099c with be submitted. Any help in this matter would be greatly appreciated!!!

By: Steve Hodson

Steve Hodson — Sat, 23 Feb 2013 15:47:31 +0000

Problem solved. Turbotax Home and Business walked me through it.

By: TurboTaxLisa

TurboTaxLisa — Sun, 17 Feb 2013 07:37:47 +0000

Hi Linda,
Sorry about your loss. You will have to file it if he received other taxable income, because if he received other taxable income then the social security income may be subject to tax. If he didn’t receive any other taxable income then you won’t have to file it.
Thank you,
Lisa Greene-Lewis

By: Linda

Linda — Thu, 14 Feb 2013 21:49:30 +0000

An SSA1099 form came to the house for my son who passed in July due to cancer. He lived with me. Am I suppose to file it for him? What do I do with it?

By: Starla McDaniel

Starla McDaniel — Tue, 12 Feb 2013 12:53:52 +0000

My husband was injured and went on short term disability. We had to borrow 10,000 from 401 k in order to pay our bills. The medical bills came to over 7500.00. Can we claim a hardship, and get a tax break???

By: Dan

Dan — Thu, 07 Feb 2013 00:43:51 +0000

Is there a deadline for a business to request a contractor to fill out a 1099misc?

By: Vanessa

Vanessa — Mon, 04 Feb 2013 16:42:55 +0000

I was employed by a very poorly run company for only two months. I was receiving personal business checks, and never signed anything with the company stating I am employed by them etc. After working for them I found out that I was paying for all extra expenses for traveling and supplies on my own. They told me to keep those receipts for tax deductions and told me I can pay taxes quarterly or however I would like. They call me today asking for my information for a 1099. Is that the correct form? I was basically an employee on their payroll so to speak. The reason I left the company is they were taking over a month to send me my checks and were not holding up their end since they were not doing financially well.

By: TurboTaxLisa

TurboTaxLisa — Mon, 04 Feb 2013 07:12:44 +0000

Hi Nicole,
You should only enter it under business income not both. Make sure you take it out of personal. Also claim any expenses he had related to the business.
If you have more questions you can ask our tax experts your question for free. Contact them by going to the “Help Along the Way” tab, Ask your question, then go to “Contact Us”
Thank you,
Lisa Greene-Lewis

By: nicole martin

nicole martin — Fri, 01 Feb 2013 17:09:39 +0000

my husband has a 1099 misc form from his payer for independent contracting. i put his tax in using home and business on turbo tax. do i have to enter it in both the business and the personal part of it? Or do I just enter it in the business.. when i do both its coming back he owes

By: Celeste Young

Celeste Young — Mon, 28 Jan 2013 20:35:21 +0000

I received a 1099-R form. It shows I paid taxes out on it prior to the deduction from the account. Would this still have to be filed?

By: angela

angela — Thu, 24 Jan 2013 21:42:53 +0000

I received a 1099-misc. I was reimburse for gas payment for taking my special needs to drs app. was doest this mean?

By: Mike

Mike — Tue, 17 Jul 2012 20:21:02 +0000

i had to do a short sale of my home and recieved a 1099-A from the second mortgage holder .
What does this 1099-A actually represent, from the stand point of the bank (mortgage holder)
and my stand point the homeowner.?

By: TurboTaxLisa

TurboTaxLisa — Mon, 25 Jun 2012 21:26:24 +0000

Hi Starla,
Yes, you should save your gas receipts as well as any other receipts associated with your business as a caregiver. She should be issuing a 1099 to you for what she pays you. Then you will have to file a schedule C, which is for people who are self-employed. Please check back when you get ready to file, as TurboTax easily guides you through this process and we also have tax experts available to help.
Thank you,
Lisa Greene-Lewis
blog.turbotax.intuit.com

By: starla

starla — Sun, 24 Jun 2012 05:19:09 +0000

I am working with a man that has Autisum, and his mother wonts me to be a caregiver for him 5 hours a day, for $8.30 an hour, and drive him to the movies, bowling, the park. etc… and she will not give me a gas allowence? She says, she wonts a copy of my ss card, cause she is gonna give me a 1099 to file out . Do i save my gas receipts!!!