If you’re self-employed, you’re not going to receive a W-2 from an employer like some of your peers. Instead, you’ll receive 1099 forms from the businesses, organizations or individuals you do business with. That said, there are many types of Form 1099 — and that means many taxpayers, not only self-employed people, can expect to receive this paperwork.
Read on for what exactly a 1099 is, the common types of 1099s (of which there are many), what you should do with the form once you receive it and more.
What is a 1099?
The various 1099 forms are what businesses and other organizations are required to send to non-employees whom they’ve paid during the year. A real estate agent may receive a 1099 from a broker for commissions received, or a freelance writer may receive a 1099 from a company they provided blog writing services to.
Because the income isn’t taxed like a paycheck from an employer would be, the 1099 is used at tax time so that the self-employed person can report the income — and pay taxes on it.
The entity that sends you a 1099 is also required to send that form to the IRS, which means it’s important that you report the income on your tax return, otherwise the IRS could flag the discrepancy.
Forms 1099-NEC and 1099-MISC are two of the most common types of 1099s, but there are many more, including those that report unemployment compensation, interest income and dividend income.
Common types of 1099s
Below are some of the 1099 forms you may encounter at tax time.
| Type of 1099 form | What it’s used for |
|---|---|
| 1099-A: Acquisition or Abandonment of Secured Property | If you transfer ownership of a property that you used to secure a loan (like if you experience foreclosure) or abandon the property, your mortgage lender may send you this form. You’ll have to use it to calculate any gain (or loss), which the IRS views as taxable income. |
| 1099-B: Proceeds from Broker and Barter Exchange Transactions | An investment broker (like Fidelity or Charles Schwab) sends this form to people for whom they’ve sold stocks, bonds, commodities and other securities. You can usually access it from your broker’s website or get it via snail mail. Barter exchanges — in which members exchange goods, services or properties — are also required to issue these. |
| 1099-C: Cancellation of Debt | If you get more than $600 in debt cancelled, forgiven or discharged, you may owe taxes on it. For example, if a credit card company agrees to settle your debt, you’ll receive this form and need to include the amount forgiven as taxable income on your return. |
| 1099-DIV: Dividends and Distributions | This common Form 1099 is used to report dividends and capital gains distributions from investments. Your brokerage will send you this form if you’re issued more than $10 in dividends from a company or if a security is sold, triggering capital gains for you. |
| 1099-G: Certain Government Payments | If you received income from the federal, state or local government, you may be issued this form. These types of payments include unemployment compensation and tax refunds. |
| 1099-INT: Interest Income | This form is used to report interest income of at least $10 from the tax year. Often, these forms will come from banks, credit unions or government agencies. If you have a bank account that earns interest, for example, you may receive this type of 1099. |
| 1099-K: Payment Card and Third-Party Network Transactions | Taxpayers who receive payments for goods or services via payment cards (credit, debit or gift cards) or payment apps and online marketplaces (such as Venmo, PayPal or Cash App) will receive this form summarizing those payments. For example, if you make money by selling second-hand clothes through the online marketplace ThredUp, or if you drive for Uber. The IRS lowered the threshold for total transactions requiring a 1099-K to $2,500 in 2025 from $5,000 in 2024. In 2026, it drops to $600. Read about the new 1099-K rules. |
| 1099-MISC, Miscellaneous Information | This common type of 1099 is used to report miscellaneous income that was not included on a 1099-NEC. This includes payments of at least $600 in the form of rents, prizes and awards, medical and health care payments and more. Find the full list on the IRS website. |
| 1099-NEC, Nonemployee Compensation | Another common 1099, this form is what independent contractors will receive from any business that paid them at least $600 in nonemployee compensation. |
| 1099-Q: Payments from Qualified Education Programs | If you withdrew money from a 529 savings plan or Coverdell education savings account — both of which are tax-advantaged investment accounts you can use to save for education — you can expect to receive this form. Distributions from these accounts are taxable. |
| 1099-R: Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, Etc. | This form is used to report distributions of at least $10 from retirement plans, pensions and annuities. If you received any of these distributions, keep an eye out for this 1099. |
| 1099-S: Proceeds from Real Estate Transactions | If you received income from the sale or exchange of real estate, this is the form you’ll receive summarizing that income. |
What is the 1099 used for?
The 1099 is used to document and summarize payments from an entity or individual that isn’t your employer. That is, if you’re hired by a company to do work on a contract basis, but it isn’t your full-time employer and it doesn’t issue you a W-2 form (which it would for an employee), then you should receive a 1099.
The organization that issues the Form 1099 is required to send that form to both the independent contractor and the IRS. They’re required to file 1099s by Jan. 31, per the IRS, so you can expect to receive your 1099 by early February.
Who gets a 1099?
Independent contractors will receive 1099s from the organizations or individuals who paid them as nonemployees if they were paid more than $600.
But there are also many other types of 1099s — and therefore many other people who may receive this type of form. For example, if a bank sent you more than $10 of income, which could well be the case if you have a high-yield savings account, it’s required to issue you a Form 1099-INT, and you’re required to report that income on your tax return.
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What should I do with this 1099?
When you receive a 1099, you’ll use it to determine how much income you need to report on your tax return. If you’re using tax software, you’ll be prompted to upload it when you’re preparing your return.
What happens if I don’t receive a 1099?
If you don’t receive a 1099 you were expecting by early or mid February, reach out to the payer or issuer who paid you and request the document. If you still don’t receive the paperwork by the end of February, you can call the IRS for help at 800-829-1040. The agency will directly contact the organization or individual who owes you a 1099. The same goes for if there’s an error on the form that needs to be corrected.
Even if you don’t receive a 1099, you’re supposed to file your tax return with all taxable income reported. In some cases, you might be able to find the information in other ways — for example, your bank or credit union probably has your interest income stated either in an online 1099 or in your account’s annual year-end statement.
If you file your tax return and then later receive a Form 1099 showing income that you didn’t report, you’ll need to file an amended tax return to account for that income.
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