Tax Document Descriptions

Tax Document

Description

Consolidated 1099

1099-B, 1099-DIV, 1099-INT, 1099-MISC, 1099-OID

1099-B

Sales transactions, cover short transactions, closing options transactions, redemptions, tender offers, and mergers for cash.

1099-C

Reports a canceled or forgiven debt of $600 or more.

1099-DA

Reports the sale or exchange of digital assets (such as cryptocurrency).

1099-DIV

Ordinary dividends of $10 or more from U.S. and foreign corporations, capital gains distributions, mutual fund dividends, federal and foreign tax withheld, and non-taxable distributions.

1099-INT

Interest income of $10 or more; federal and foreign tax withheld.

1099-MISC

Rent or royalty payments, substitute payments of $10 or more, and other income totaling $600 or more.

1099-OID

Original issue discounts on corporate bonds, certificates of deposit (CDs), collateralized debt obligations (CDOs), and U.S. government obligations of $10 or more.

1042-S

Reports U.S. source income paid to foreign individuals or entities (non-resident aliens). This includes payments like interest, dividends, or rewards that are subject to U.S. tax withholding.

5498

Reports your IRA contributions to the IRS.

1098-E

Generated if you paid at least $600 in student loan interest during the year.

1098-INT

Used to report $600 or more of interest and related expenses paid on a mortgage during the tax year.