2011 1099 Forms, Plus New Form 1099-K, Due This Month

It’s January, and time to get your 2011 1099 forms and instructions in order. This year, though, there’s a new player in town: The new Form 1099-K. The new form may increase confusion about 1099 forms and instructions. So here are some Frequently Asked Questions to help clarify what’s required: What are 1099 forms? The IRS provides 1099 forms for taxpayers to report different types of miscellaneous taxable income. (It’s not for wages, which should be reported on employees’ W-2 forms.) There are different 1099 forms for different types of income, for example: 1099-B is for stocks, bonds, and securities; 1099-C is for canceled debts; 1099-DIV is for dividends; and 1099-INT is for interest earned. A complete list of IRS 1099 forms