Amanda White
CFP, 5-Year Full-Time Freelancer
1099 Form
In This Article
Definition
IRS tax form reporting income paid to non-employees, commonly 1099-NEC for contractor pay or 1099-K for payment platforms.
Related Terms
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FAQs
When do I get a 1099?
By January 31 for the previous year if you earned over thresholds.
What if I didn't get one?
You must still report all income regardless of receiving forms.
Similar Terms
1099-K
Tax form reporting payments from payment networks like PayPal or gig platforms when exceeding annual thresholds.
1099-NEC
Tax form for non-employee compensation of $600 or more, replacing Box 7 of the old 1099-MISC for contractor payments.
Self-Employment Tax
Social Security and Medicare taxes for self-employed individuals, totaling 15.3% on net earnings.
Schedule C
IRS form for reporting income and expenses from sole proprietorship or self-employment on your personal tax return.
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Important Disclaimer: This content is for informational purposes only and should not be considered tax, legal, or financial advice. Consult a qualified professional (CPA, tax attorney, or financial advisor) for advice specific to your situation.