1099s are issued to individuals who earn income of more than $600 during the calendar year. This includes wages, salary, tips, bonuses, rent, royalties, and other sources of income. e-Filing 1099s and 1096s form Sage 50 also include amounts received from interest, dividends, and capital gains.
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Once you have verified the information on the 1099 or 1096, you can begin filing your taxes. You will need to gather all of the documentation that was included with the form, Printing the New 1099-NEC in Sage 50 such as W-2s and tax returns. You may also need to submit additional forms, such as Forms 8937 and 2039, if necessary.
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