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A 1099 form is used to disclose any income other than wages, salaries, and tips. It is used by independent contractors, otherwise knows as ‘freelancers’ as a report for their ‘per-job’ income. The Internal Revenue Service has more than a dozen of 1099 form variations, covering earning such as contributions, dividends, cancellation of debt (yes, they tax that also), gambling winning and others. Here’s the list (1):

1099-A: acquisition or Abandonment of Secured Property
1099-B: Proceeds from Broker and Barter Exchange Transactions
1099-C: Cancellation of Debt
1099-CAP: Changes in Corporate Control and Capital Structure
1099-DIV: Dividends and Distributions
1099-G: Government Payments
1099-H: Health Insurance Advance Payments
1099-INT: Interest Income
1099-LTC: Long Term Care Benefits
1099-MISC: Miscellaneous Income
1099-OID: Original Income Discount
1099-PATR: Taxable Distributions Received From Cooperatives
1099-Q: Payment from Qualified Education Programs
1099-R: Distributions from Pensions, Annuities, Retirement Plans, IRAs, or Insurance Contracts
1099-S: Proceeds from Real Estate Transactions
1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA
W-2G: Certain Gambling Winnings

A 1099 form is issued for each and every job, if a business issues 250 or more 1099 forms, it is required to file them electronically. It is mostly common with independent contractors, and it is required when compensation exceeds $600 per calendar year.

(1) List source: wikipedia

Tags: 1099 | IRS | tax | tax form