Forms 1099

Why there isn’t just one “1099 form”
“1099” isn’t a single form; it’s a family of forms, each covering a different type of income. Which one you receive (or need to issue) depends entirely on the situation. This guide is a quick way to figure out which version actually applies to you.

The five most common versions

• 1099-NEC — Payments of $2,000 or more to an independent contractor or freelancer for services. The one most business owners need to issue.
• 1099-MISC — Other miscellaneous payments, like rent, royalties, prizes, or legal settlements.
• 1099-INT — Interest income from a bank, credit union, or brokerage.
• 1099-DIV — Dividend income and capital gains distributions from investments.
• 1099-K — Payments processed through third-party platforms, like payment apps and online marketplaces.

Deadlines vary by form

This is where people get tripped up; 1099-NEC is due earlier (January 31) than several of the others. Don’t assume every 1099 you issue has the same deadline; check the specific one that applies.

How Luminary can help

Whether you’re issuing 1099s to contractors, trying to figure out which version applies to income you received, or just want to make sure nothing’s been missed before a deadline.