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Article · Tax

What is a 1099?

A 1099 is an IRS information return that reports money paid to you that was not wages.

The common ones. A 1099-NEC reports pay to a contractor. A 1099-MISC covers rents and some other income. A 1099-INT and 1099-DIV report interest and dividends. A 1099-K reports payments through cards and payment apps.

Who gets a copy. The payer sends one copy to you and one to the IRS, early in the year after you were paid.

What you do with it. Report the income on your tax return. Contractor income usually goes on Schedule C, with self-employment tax on Schedule SE. Tax is rarely withheld, so you may need to make estimated tax payments.

If you pay contractors. Collect a Form W-9 before you pay, and you may need to send a 1099-NEC after the year ends. The IRS sets the threshold and the deadline each year.

Atlas has a PDF for this: Form 1099-NEC. Open it in Documents to fill it in.

Updated 25 days ago from TaxReviewed by the Atlas teamGeneral information, not advice for your situation

Where to go next

Prepare your return

Federal and every state, with the reason for every number.

Tax · tax.snowai.app Fill in Form 1099-NEC

Open the blank form in Documents and fill it in.

Documents · documents.snowai.app Send a W-9 to be signed

Collect a contractor’s W-9 before you pay them.

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Related in Atlas 15 entries

Articles4

You got a 1099. Now what?Check it, report the income, and see whether you owe estimated tax.Article · Tax Paying contractors: the forms you sendCollect a W-9 before you pay; send a 1099-NEC after the year ends if you need to.Article · Tax Contractor or employee?How the difference changes the forms you get and the tax you handle yourself.Article · Playbook Taxes when you work for yourselfIncome tax, self-employment tax, and paying during the year.Article · Playbook

PDFs and forms4

Form 1099-NEC (PDF)The blank form for reporting payments to contractors. Open it in Documents to fill it in.PDF · Documents Form W-9 (PDF)The form a contractor fills in so the payer has their legal name and taxpayer ID.PDF · Documents Form 1099-K explained (PDF)Reports payments you received through cards and payment apps.PDF · Tax Schedule C explained (PDF)Where a sole proprietor works out business profit or loss.PDF · Tax

Terms4

1099The IRS form that reports money paid to you other than wages, such as contractor pay.Term · Tax W-2The form an employer gives you each year showing your wages and the tax withheld.Term · Tax Estimated tax paymentsPayments made during the year on income that has no tax withheld, usually each quarter.Term · Tax Self-employment taxSocial Security and Medicare tax that people who work for themselves pay on their net earnings.Term · Tax

Apps3

TaxReturns prepared by your tax firm or by you, federal and every state, with the reason for every number.App · Tax DocumentsWrite, store and send every document a practice owes its clients.App · Documents SignSend a document out to be signed, and keep what was said about it.App · Sign

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