What is form 1099?

[Cécy 44]

So we're currently filling the affidavit of support and trying to find the documents that go with it.

We see several forms: 1040A, w-4, W-2, 8879, 1098 and D-400.

He files his taxes with H&R block.

Help!

Which one do we need? Should we ask H&R for it?

We're very confused right now to be honest, so any help on this would be great.

Edited July 2, 2007 by Cécy

[wheeler04 0]

1099 is a statement issued to you by a bank or brokerage if you earn any interest or profit from investments.

[Cécy 44]

Ok, then we simply not have one. Good to know. Thank you!

[~krakatoa~ 27]

1099 is a statement issued to you by a bank or brokerage if you earn any interest or profit from investments.

Does the bank has to be a US bank?

If we earn interest from stocks and shares with the company (in Europe) do we have to pay taxes for it too? Sorry if this is a dumb question, I simply don't know and confused too. My husband doesn't know too as it is his empoyer who handles the stocks.

[Mirlan 0]

J'ai fait des recherche sur le Form et je pense Que ce lien vas T'aider :

http://www.irs.gov/pub/irs-pdf/f1099msc.pdf

Salutation de Pennsylvania

Edited July 2, 2007 by Mirlan(a)

[1HappyGuy 45]

Regarding form 1099, there are several types of these forms. Most people receive them from banks or brokerage houses telling of their interest and dividend income for the year. However, if you are self employed, you will usually receive a 1099-Misc. The reason for this request by the government is to see that you are self employed and report your income in such a manner.

Regarding reporting income from Europe or other places, please understand this. As a resident of America, you must report and pay taxes on your World Wide Income. Now, you are allowed to claim deductions or tax credit for taxes paid to other countries on the same income, but it is still reportable to America and the state you reside in (assuming it has an income tax).

I hope that helps explain a few things.

[~krakatoa~ 27]

Regarding form 1099, there are several types of these forms. Most people receive them from banks or brokerage houses telling of their interest and dividend income for the year. However, if you are self employed, you will usually receive a 1099-Misc. The reason for this request by the government is to see that you are self employed and report your income in such a manner.

Regarding reporting income from Europe or other places, please understand this. As a resident of America, you must report and pay taxes on your World Wide Income. Now, you are allowed to claim deductions or tax credit for taxes paid to other countries on the same income, but it is still reportable to America and the state you reside in (assuming it has an income tax).

I hope that helps explain a few things.

I know it would take a lot of exposure to the system, laws (fed, state, local) and experience to fully grasp all the information but thank you for the overview It does help.