tax forms

1099-G

G-government such as unemployment compensation, state and local tax refunds

1099-MISC

Earned $600< in rent, gameshow prize, royalties for a song you wrote, or money an attorney sent you

1099-NEC

A tax form that reports Non-Employee Compensation (NEC) which means money earned by independent contractors, freelancers or self-employed individuals. ex. DoorDash

schedule A (1040)

All itemized deductions, medical and dental expenses, mortgage interest, state and local taxes, charitable donations, and casualty and theft loss

1040

An IRS form that people use to file their annual income tax returns.

1098-C

Connected with a very specific form of charitable giving. it shows any donation a tax filer made to a qualifying charity or non-profit of a car, truck, van, bus, boat or airplane worth more than $500 and meets other requirements

1099-SA

Distributions From your health savings account, an HSA, Archer MSA, or Medicare Advantage MSA

Head of Household (HOH)

For unmarried people who maintain and pay the costs of keeping a home and have at least one dependent.

1099-LTC

Long-Term Care and Accelerated Death Benefits

1099-K

Payment Card and Third Party Network Transactions

1099-Q

Payments From Qualified Education Programs (Under Sections 529 and 530)

1040-NR

Nonresident aliens who are required to file a U.S return file

1098-E

Student loan interest statement. Lenders who receive interest payments of $600 or more from a student loan borrower in a calendar year must provide this form to the BORROWER. consist of the amount of student loan interest paid by the borrower, the account number assigned by the lender and other info

1099-OID

Think bonds, like savings bonds or corporate bonds.

1040-SR

U.S. Tax Return for Seniors age 65<

Schedule 2 (1040)

additional taxes, credits, and payments, and its split into two parts: refundable credits and non-refundable credits

1040 X

amended tax return

W-4 Form

completed for your employer to determine how much should be withheld from your paycheck for federal income taxes and sent to the IRS

1099-DIV

dividend income and other stocks totaling $10 or more.

Schedule SE (1040)

for business owners or independent contractors who made profit of at least $400, this form is used to calculate self-employment tax

Form 8812 (1040)

for claiming the additional child tax credit on your 2020 tax return

Schedule R (1040)

for claiming the senior or disability tax credit

Married Filing Separately (MFS)

for married people who want to file 2 seperate tax returns

Married Filing Jointly (MFJ)

for married people who want to file one tax return together

single status

for people who aren't married and doesn't have a qualifying dependent.

Qualifying widow(er)

for people whose spouse died in the previous 2 years, and have a qualifying child.

SSA-1099

form used to report Social Security benefits

1099-INT

if you earned taxable interest income of $10 or more from your bank, credit union, brokerage or other financial institution

1099-B

income received from sale of stocks, mutual funds, ETFs and other types of transactions

1098-Q

is connected with a specific form of retirement-savings vehicle called a Qualifying Longevity Annuity Contract. This form is a statement showing the money the annuity holder received from such a contract over the course of a calendar year.

Standard Deductions (SD)

lowers income by one fixed amount.

Itemized Deductions

made up of a list of eligible expenses.

1098 - Mortgage Interest Statement

most familiar and reflects mortgage interest a borrower paid in a calendar year, if a borrower paid $600 or more in interest on a mortgage debt in a calendar years

1098-MA

reflects mortgage ASSISTANCE payments made by a State Housing Finance Agency (HFA) and mortgage payments made by the mortgage borrower, the homeowner.

Schedule D (1040)

reporting capital gains or losses from investments

Schedule C (1040)

reporting profit or loss from business

Schedule 1 (1040)

reporting several common additional income sources or adjustments to income

Form 1098

reports amounts that may affect a tax filer's adjustments to income deductions from their income on their annual tax return.

1098-F

shows any court-ordered fines, penalties, restitution or remediation a person has paid

1099-S

tax form used to report real estate sales to the IRS, won't be mailed but will be in closing documents

schedule E (1040)

those who have income or losses from rental real estate, royalties, partnerships, S corporations, estates, trusts, REMICs, or other pass-through entities will report those amounts on the form

1099-C

to report a debt of $600 or more that was cancelled or forgiven and is taxable as income.

1098-T

tuition statement, includes amounts of payments received by the school for qualified tuition and related expenses such as scholarships and grants a student may have received

Schedule J (1040)

used by Fishermen and farmers who choose to figure their income tax by averaging 3 previous years' worth of taxes in order to more evenly distribute tax liability

Schedule F (1040)

used by farmers to report income and expenses from farming

Schedule H (1040)

used by taxpayers with household workers, such as nanny or caretaker

Schedule B (1040)

used to report interest and dividend income that is greater than $1,500

1099-R

which shows distributions from income sources such as pensions, annuities, profit sharing plans, life insurance contracts, and other retirement accounts