1099 Form 2012

A 1099 Form 2012 does not just consist of one form but a series of different forms for different purposes. Each 1099 Form 2012 is suffixed with a letter or letters to indicate what type of taxable income to report. For example 1099- B is used for every sale of bonds, stocks, and mutual funds you have made; 1099-C is to report any debt cancellations; and 1099-MISC is for the different types of income you receive which include non-employee compensation and royalty. Furthermore, to report the Social Security benefits paid to you, you need a Form SSA-1099. Each 1099 Form 2012 has its own provision most especially the 1099-MISC which you need to furnish 2 copies –namely copy B and copy 2 – and submitted by February 28. Any other detailed instruction regarding these forms can be found in the IRS web site or in other web sites dedicated to taxes.