Quickbooks, Bookkeeping and Accounting Blog

January 31st is the deadline to give annual information statements (Form 1099) to recipients of certian types of payments you made during 2007. Payments covered include:

• Abandonment (1099-A)
• Accelerated death benefits (1099-LTC)
• Agriculture payments (1099-G)
• Annuities (1099-R)
• Attorneys, fees and gross proceeds (1099-MISC)
• Auto reimbursements: Nonemployee (1099-MISC)
• Awards: Nonemployee (1099-MISC)
• Barter exchange income (1099-B)
• Bonuses: Nonemployee (1099-MISC)
• Broker transactions (1099-B)
• Cancellation of debt (1099-C)
• Capital gain distributions (1099-DIV)
• Car expense: Nonemployee (1099-MISC)
• Charitable gift annuities (1099-R)
• Commissions: Nonemployee (1099-MISC)
• Commodities transactions (1099-B)
• Compensation: Nonemployee (1099-MISC)
• Crop insurance proceeds (1099-MISC)
• Damages (1099-MISC)
• Death benefits (1099-R)
• Death benefits:Accelerated (1099-LTC)
• Debt cancellation (1099-C)
• Direct rollovers (1099-R)
• Direct sales of consumer products for resale (1099-MISC)
• Directors fees (1099-MISC)
• Discharge of indebtedness (1099-C)
• Dividends (1099-DIV)
• Education IRA distributions (1099-R)
• Excess deferrals, excess contributions, distributions of (1099-R)
• Fees: Nonemployee (1099-MISC)
• Fishing boat crew members proceeds (1099-MISC)
• Fish purchases for cash (1099-MISC)
• Foreclosures (1099-A)
• 404(k) dividend (1099-DIV)
• Golden parachute: Nonemployee (1099-MISC)
• Grants, taxable (1099-G)
• Health care services (1099-MISC)
• Income tax refunds, state and local (1099-G)
• Indian gaming profits paid to tribal members (1099-MISC)
• Interest income (1099-INT)
• IRA distributions (1099-R)
• Life insurance contract distributions (1099-R, 1099-LTC)
• Liquidation, distributions in (1099-DIV)
• Loans, distribution from pension plan (1099-R)
• Long-term care benefits (1099-LTC)
• Medical savings accounts: Distributions (1099-MSA)
• Medicare+Choice Medical Savings Accounts: Distributions (1099-MSA)
• Medical services (1099-MISC)
• Mileage: Nonemployee (1099-MISC)
• Military retirement (1099-R)
• Nonemployee compensation (1099-MISC)
• Nonqualified plan distribution: Beneficiaries (1099-R)
• Original issue discount (OID) (1099-OID)
• Patronage dividends (1099-PATR)
• Pensions (1099-R)
• Prizes: Nonemployee (1099-MISC)
• Profit-sharing plan (1099-R)
• PS 58 costs (1099-R)
• Punitive damages (1099-MISC)
• Qualified plan distributions (1099-R)
• Qualified state tuition program payments (1099-G)
• Real estate transactions (1099-S)
• Recharacterized IRA contributions (1099-R)
• Refunds, state and local tax (1099-G)
• Rents (1099-MISC)
• Retirement (1099-R)
• Roth conversion IRA distributions (1099-R)
• Roth IRA distributions (1099-R)
• Royalties (1099-MISC)
• Timber, pay-as-cut contract (1099-S)
• Sales: Real estate (1099-S)
• Sales: Securities (1099-B)
• Section 1035 exchange (1099-R)
• SEP distributions (1099-R)
• SIMPLE distributions (1099-R)
• Substitute payments in lieu of dividends or tax-exempt interest (1099-MISC)
• Tax refunds, state and local (1099-G)
• Unemployment benefits (1099-G)
• Vacation allowance: Nonemployee (1099-MISC)

This is not a complete list of payments, so the absence of a payment from this list does not indicate that the payment is not reportable. For more information, check out the IRS’s website.