Understand the IRS 1099 Form: Discover its purpose, who receives it, how to fix mistakes, the different types of 1099 forms, and why e-filing makes managing them easier.
Box 1: Interest income—Enter this amount on Form 1040 or on Schedule B (if required). It’s taxable as ordinary income. Box 2: Early withdrawal penalty—The penalty shown in Box 3 is applied when you withdraw a time savings, like a CD, early. Enter this amount as an adjustment to ...
dividends, including exempt-interest dividends and capital gains dividends, of more than $10. The 1099 Forms information included on Form 1099-DIV is transmitted to the IRS (Internal Revenue Service) / SSA (Social Security Administration) as well as the payee, or person the dividends were paid...
Account number: If you are filing multiple 1099 forms, assign a unique account number to each recipient to differentiate between them. Income: Report the total amount paid to the recipient during the tax year in the appropriate box based on the type of income. Review the form for accuracy an...
Boxes 3 and 5 show the amount of your earnings subject to Social Security and Medicare taxes, respectively. Boxes 4 and 6 show the amount of Social Security and Medicare taxes withheld. The amounts in boxes 3 and 5 might be different from the amount in box 1. This often happens in situ...
Box 3 — Social Security Wages Include the total wages subject to Social Security tax. There’s a chance this number will be different from box 1. The Social Security Administration doesn’t require employees to pay Social Security taxes on wages above $168,600 in 2025. ...
You may also visit the SSA on the Internet at www.ssa.gov. Box 3 - Gross Social Security Equivalent Benefit Portion of Tier 1 Paid in 2013 - This is the total amount of the SSEB portion of Tier 1 benefits paid to you in 2013. It includes any SSEB benefits paid in 2013 that were ...
Once you have filed yourForm W-2to the SSA, you can alsofile your W-2 Form to the respective statedirectly through ExpressIRSForms. Start Filing Now Frequently Asked Questions: Form W-2/W-3 How to extend the Form W-2 Deadline?
P.O. Box 33003 Baltimore, MD 21290-3003 Read More:E-Filing: How to File Your Taxes Electronically, IRS Free File & More Contacting the IRS If you aren't working on Social Security-related matters and would like a cheaper copy of your W-2, you can contact the IRS. Visit the...
Boxes 1-2:Box 1 shows taxable income, including wages, salary, tips, and bonuses, while Box 2 shows how much federal income tax the employer withheld. Boxes 3-4:Box 3 details the earnings subject to Social Security tax and Box 4 shows the amount of Social Security tax withheld. ...