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Can i file a 1099 and 1040 form in the same year?

Asked by: allcreaturesvh 1024 views YA Discussion

2 Answers

  1. mrreliable3599 on Feb 02, 2012 Reply

    Yes, but I’m sure that’s not really your question.

    A 1099 is what an individual receives to report payments for services performed, the amount of which is reported on the individual’s Form 1040.

    The only way you would file a 1099 is if you have a business and made payments of over $ 600 to a service provider.

    You’re probably talking about “receiving” a 1099 rather than filing one.

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  2. SmartA$$ on Feb 02, 2012 Reply

    Yes, sort of.

    A 1099 form is what you receive from someone else to report some sort of taxable income. For example a 1099-int would be interest from a bank account, a 1099-misc would be self employment income from working as a contractor for a company.

    A 1040 form is the form you send to the IRS as your personal tax return which includes all your taxable income and computes whether you owe taxes or get a refund from over payment.

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