Question

I have a question about when to file 1099 MISC Forms. Do I have to wait until I receive all my 1099 MISC Forms before I file my return?

Answer

It’s best to wait until you’ve received all 1099 MISC Forms that you expect before filing your return. However, don’t wait beyond the April tax deadline to file 1099 MISC Forms. File your return and pay the balance due by April 15 to avoid penalties and interest.

The companies you worked for should provide you with 1099 MISC Forms by Jan. 31 of the year following the year they paid you. If any payer paid less than $600 for your services, that payer isn’t required to provide you with 1099 MISC Forms.

Regardless of if you received a 1099 MISC, you should be keeping records of all income your business produced during the year. Store those records with your return.

Also, if your self-employment net earnings are $400 or more, you must file a Schedule C and a Schedule SE to calculate your self-employment tax liability. This doesn’t apply to church-employee income.

Related Topics

Related Resources

Want to Apply Your Tax Refund to Next Year’s Estimated Tax? It’s Possible

Find out from the team at H&R Block if you can apply your tax refund to next year’s estimated taxes and how to check if you did this last year.

IRS Notice LT26 – The IRS Still Hasn’t Received Your Tax Return

Learn more about notice LT26, why you received it, and how to handle an IRS LT26 notice with help from the tax experts at H&R Block.

Four Myths — And The Truth — About IRS Audits

Separate fact from fiction when it comes to IRS audits. Learn what causes tax audits, what happens during an audit, and what to do if you get an IRS letter.

Don’t Pay an IRS Penalty Without Looking Into Penalty Relief

The IRS grants four types of penalty relief, but many taxpayers don't ever ask. Learn how to request penalty abatement from the IRS.