Learn about the IRS 1099 Form: See what it's for, who gets it, how to fix mistakes, the different kinds, and why e-filing makes it easier.
Tax season can be a stressful time for both individuals and businesses. One of the critical forms you may encounter is the IRS 1099 form. Payments made to nonemployees don’t show up on a W2. Instead, the IRS requires payers to report payments (over $600) on a tax form known as a...
1099-S reports proceeds from selling a house. The amount may not be taxable – for example, if you’re single you can generally exclude up to $250,000 in home sale profits from taxes, or up to $500,000 if married filing jointly if you lived in the house for two of the ...
FSBO stands refers to a property that is For Sale By Owner. There are several advantages to selling a property FSBO, especially...
A 1099-S is issued to taxpayers for real estate transactions if they had closed a sale or an exchange during the tax year. Some examples of real estate transactions could be realizing gains or proceeds from the sale of land, commercial and industrial buildings, and residential properties, such...
1099 forms are crucial to you as an independent contractor. Learn what a 1099 form is and how you can use it to report your income.
A certificate of sale is a court-issued document that is awarded to the winning bidder at a mortgage foreclosure auction. If the...
We’re here to review tax information and questions about the form, why you may receive it, and what the form would report for each situation. What is a 1099 Form? There are so many tax forms out there, so you may be wondering, “What is Form 1099?” here’s the simple answer: ...
1099-A You might receive one Form 1099-A if your mortgage lender canceled some or all of your mortgage, or you were involved in a short sale of your home. Why? Canceled debt is income in the eyes of the IRS — and it’s generally taxable. 1099-B Form 1099-B covers income from th...
is a bargain. When running a sale to clear outinventorythat is not moving, some dealers will display three prices on selected vehicles: the suggested retail price, the usual discountedsticker price, and sales price that is available for a short time only. This strategy serves to further ...