What is a 1099 Form?

The different types of 1099 forms represent various types of income collected throughout the year needed to file one’s taxes. Like a W-2 form, it will be sent by January 31, though not all taxpayers will receive one. Independent contractors who make at least $600 during the previous year will receive a 1099 form. The dividends and interest received during the year from a portfolio of stock investments or mutual funds will also be reported on a 1099 form. If one collected unemployment benefits or withdrew from a retirement account during the year, this information would also be included on a 1099 form.