For some taxpayers, the majority (or even all) of their earnings in a given year will be 1099 income. Examples include someone who lives mostly off of Social Security income (SSA-1099), investment ...

“You’ll need to make sure you have these moves documented in the event of an IRS audit, so a 1099-Q will be generated if funds are distributed from a 529 plan, and the Form 5498 will be ...

Businesses will also send a copy of your 1099 forms to the federal tax agency. Your tax return will be compared to what's on file to see if there are any discrepancies, and if the numbers vary ...