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Miscellaneous Income - Form 1099-MISC Form 1099-MISC reports various types of miscellaneous income other than wages, salaries, and tips, which are reported on a W-2 instead. Payments for ...
Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. - Form 1099-R Form 1099-R is used to report distributions of $10 or more from profit-sharing or retirement plans, individual retirement arrangements (IRAs), annuiti...
Certain Gambling Winnings - Form W-2G Form W-2G is the tax form for gambling winnings and the federal income tax withheld on these winnings. You must provide a Form W-2G if You receive m...
Statement by Person(s) Receiving Gambling Winnings - Form 5754 You must fill out Form 5754 [Statement by Person(s) Receiving Gambling Winnings] before you can receive a Form W-2G [Certain Gambling Winnings] if you...
What is the Adjusted Gross Income (AGI) Adjusted gross income (AGI) is a special calculation of income that determines your eligibility for certain credits and deductions. Most phase out or ...
What Is Earned Income? Earned income is income that you had to work to earn, either working for someone else who pays you or working in a business you own and run. Use your ...
What Is Unearned Income? Unearned income is income that you did not work to earn. Unearned income is often important in figuring out if a dependent needs to file a tax return....
Cancellation of Debt Exclusion - Form 1099-C If a debt you incurred is successfully cancelled by the lender, then the amount of the debt is generally considered a part of your gross income for th...
What Is Modified Adjusted Gross Income? Also known by its acronym MAGI, the modified adjusted gross income is figured by adding back to your Adjusted Gross Income (AGI) specific benefits, ex...
Do I have to report income from child support payments? No, you do not have to report child support on your tax return because these payments constitute nontaxable income. Nor do they constitute a deductibl...
I received another tax document (such as a W-2) after I submitted my tax return. What do I do? In this case it is generally best to file an amended return. If you are receiving a W-2 or a 1099, that means the IRS has been notified of this income...