The IRS 1099 Forms: The Purpose & Features

Form Number	Purpose	Essential Details
1099-MISC	Reports miscellaneous income such as rental income, royalties, healthcare payments, etc.	Companies must send this form to individuals they paid $600 or more during the tax year in the course of their business.
1099-INT	Reports interest income earned on investments and savings.	Financial institutions must issue this to individuals who have received at least $10 of interest income during the tax year.
1099-DIV	Reports dividend income and capital gains distributions.	Investment companies must use this form to report payments of dividends and capital gains of $10 or more, and foreign tax paid on such income.
1099-R	Reports distributions from retirement plans, profit-sharing plans, IRAs, or insurance contracts.	Financial institutions should distribute this form for each individual from whom they have withheld federal income tax on retirement distributions, or to whom they have paid $10 or more from profit-sharing schemes.
1099-S	Reports proceeds from real estate transactions.	Used to report the sale or exchange of real estate. The issuer is generally the person responsible closing the transaction.
1099-C	Reports cancellation of debt.	Financial institutions use this form to report anything above $600 that was intended to be repaid but for which they have forgiven the debt.
1099-G	Reports certain government payments like unemployment compensation and tax refunds.	Used by government agencies to report items like refunds, credits, or offsets of state or local income tax during the tax year.
1099-B	Reports proceeds from broker and barter exchanges.	Typically used by brokerages to report the sale of securities, commodities, futures contracts, etc. Includes information on the purchase date and cost basis for the calculation of capital gains and losses.
1099-K	Reports payment card and third-party network transactions.	Payment settlement entities must provide this form for each person to whom they have paid at least $20,000 or made over 200 transactions within a calendar year.
1099-LTC	Reports long-term care benefits, including accelerated death benefits.	Used by insurance companies to report payments made under a long-term care insurance contract or certain life insurance contracts.