Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one. More taxpayers ...

Form 1099-Q documents "payments from qualified education programs." If you received distributions from a 529 plan or Coverdell education savings account (CESA) for education expenses, you'll ...

Keep records of those qualified expenses in your tax files. Similarly, you'll receive Form 1099-Q for distributions from 529 plans, but money you used for qualified education expenses aren't taxable.

All businesses are required to issue a 1099 to any individual or business which you paid $600 or more during the calendar year 2024. The only exceptions are: Wages or salary paid to a W-2 employee ...