Sticking just to the most common types of 1099 filing forms, there is still an enormous range of businesses, organizations, and individual contractors that must comply with various federal reporting requirements. Schools and universities, home lenders and realtors, brokerage firms and retirement account managers, independent contractors, and businesses of nearly all stripes must first determine what types of 1099s are relevant to their commercial activities from the past year.
Different Types of 1099 Forms
Again, these are just the most commonly used 1099 forms. You can find a more complete list of forms here.
- 1099-MISC: Most commonly used for self-employed contractors, but also includes a number of “miscellaneous” categories including rent, royalties, crop insurance, prizes and awards, as well as certain medical and legal service payments.
- 1099-A: For the acquisition or abandonment of certain kinds of secured property not already accounted for by 1099-C.
- 1099-B: For proceeds that originate from broker transactions and barter exchanges, including the sale of stocks, commodities, debt instruments, and certain types of financial contracts.
- 1099-C: For the cancellation of debt, as well as the acquisition/abandonment of secured property.
- 1099-DIV: For dividend payments and liquidation including foreign tax and federal income tax withheld on dividend payments.
- 1099-INT: For interest income and payments made other than interest-exempt dividends.
- 1099-LTC: For long-term care payments and accelerated death benefits.
- 1099-Q: For payments made through qualified education programs.
- 1099-QA: For distributions made through ABLE accounts (for qualified disability expenses).
- 1099-R: For distributions made through pensions, annuities, and other retirement plans.
- 1099-S: For the sale of real estate and certain royalty payments.
- 1099-SA: For distributions made through qualified health savings accounts.
The W-2/1099 Forms Filer from AMS
Discover the powerful and intuitive performance of our menu-driven platform. The W-2/1099 Forms Filer from AMS offers a comprehensive set of essential data entry, reporting, printing, networking, and security. Moreover, this platform provides sophisticated module interaction, which means that businesses with more extensive needs for filing software can build a customized package of additional software products.
Multiple Types of 1099 Filing Services
Data management and form preparation is only the first half of complying with your reporting requirements. When it comes to file your 1099 forms, it’s great to know that you’ll have multiple options available from AMS. Find the solution that makes the most sense for your business:
- The E-File Direct Software Module: With this AMS product, you can e-file an unlimited number of forms directly with the IRS and SSA for the cost-effective price of $154.
- E-File Software Services: You can also have a third-party software vendor take care of some, or all, of your e-filing and form mailing services. This option is charged based on per form filing fees.
- Do it the Old-Fashioned Way: With the printing support offered through our Forms Filer, you can always print and mail the forms yourself. And while this is fairly common in combination with certain e-file software services, it’s becoming increasingly rare as a comprehensive filing system.
Download our free software demo or talk to our Sales and Information team at (800) 536-1099 to get started today.