What is Tax Form 1099
Tax Form 1099 contains information that is reported to the Internal Revenue Service (IRS) and is designed to assist with filing annual federal income tax returns.
The tax activity being reported to the IRS on Form 1099 is separated into five sections:
1) 1099 DIV – Dividends and Distributions
2) 1099-B- Summary of Proceeds, Gains and Losses, Adjustments and Withholding
3) 1099-MISC - Miscellaneous Income
4) 1099-INT – Interest Income
5) 1099-OID – Original Issue Discount and Adjustments*
* 1099-OID will display all 0.00 as these product types are currently not available.
