I noticed there are different 1099 forms. One for -misc -b -c and others. What is the difference between each of them?

And I'm assuming 1099 means its just a form that your employer or a service like PayPal gives to the IRS to tell them they paid you and the IRS should be expecting taxes back from you?

  • IRS will expect you to report this income on your return (or schedules thereto), which will usually increase your tax but depending on other factors in your situation not always. Also, if there was withholding, which is fairly rare for 1099 income but possible, the 1099 shows/confirms the withholding, which you report and count as payment made for your liability. Mar 31 '18 at 0:12

Have a look at this IRS query, additionally, Wikipedia has a nice summary of variants.

Basically 1099s are forms reported to the IRS by an entity which paid you income of some form. There are many different forms of income, all with potentially different tax treatments, hence the wide variety of 1099s. Usually, but not always, the suffix (e.g. INT, B, MISC, etc) will provide a very brief acronym as to its purpose: INT->Interest, R->Retirement distributions, MISC->Miscellaneous, etc).

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