Tag Archives: 1099-G
It can be stressful to deal with the loss of a job, even if you have just been laid off. You’re struggling to find out how to meet the ends, and unemployment benefits can be the answer to the help you’re looking for. You must remember, though, that they are taxable. You must include any […]
— Read more
There are many different Form-1099s that you may encounter when tax season rolls around. Some of the most common include: 1099-A: If your mortgage lender cancels some or all your mortgage, or your home was sold in a short sale, you’ll likely receive a 1099-A. Because the IRS considers canceled debt to be equivalent to […]
— Read moreThis tax season, you may receive a Form 1099 in the mail, specifically if you performed work outside your typical employer. You’ll need this document to file your tax return, so it’s important you store it in a safe place until you have everything you need to complete your return. What is a 1099? This […]
— Read moreUnemployment benefits are taxed depending on the type of program you are receiving the benefits from. Compensation amounts from unemployment include any income received according to either the federal or state laws of the United States. This compensation can include: State unemployment insurance benefits Benefits paid from the Federal Unemployment Trust Fund Railroad unemployment compensation […]
— Read moreThere’s a chance you’ll need to report the information listed on a Form 1099-G should you receive one from a government agency. Typically, 1099-G is used to report compensation from unemployment benefits, along with tax refunds issued by the state or local government. Unemployment Benefits If you receive compensation from unemployment, you are required to […]
— Read more
