Your 1099-R tells the IRS a story about your IRA distributions. But what if the story is not true? If a distribution was made from your IRA during 2024, your IRA custodian must send you a Form ...

The threshold is currently set to drop again in 2025, which means you'd receive a 1099-K during next year's tax season if you have transactions for more than $2,500 this year.

Consider working with a tax professional if you are a company or individual working with 1099-LS and 1099-SB forms. SSA-1099 The SSA-1099 documents Social Security benefits income.

Often issued with a 1099-DIV, 1099-OID, or 1099-R, you may not owe tax. But it’s important to report the amount in case you do. 1099-K: Merchant Card and Third-Party Network Payments ...

Because of the simplicity and what’s captured on this tax form, I commonly refer to a client’s 1099-R as their “retirement account’s W-2.” ...

Income documented on a 1099 should be reported on the front page of your tax return, Form 1040. Some types of 1099 income may require completing and attaching additional forms, known as schedules.

If you qualify for an exception, but your IRA custodian inputs Code 1 in Box 7 of your 1099-R, your tax preparer must file IRS Form 5329 to override the Code 1 and claim the exception.