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    emi123's Avatar
    emi123 Posts: 2, Reputation: 1
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    #1

    Feb 27, 2008, 12:27 PM
    Confusion over tax forms w2 and 1099
    Hi,

    I'm really confused about my tax forms this year. I received a w2 for the total amount of about $1,200, but I also received a 1099 from my bank for$ 40.00 and a 1099 for some writing I did for about $14.00 Does this mean I have to file a separate schedule C for the 64 dollars I received on my 1099s? Or can I just file a 1040 ez? Does the income from my 1099s count as income other than wages, tips and other compensation? Any help would be amazing. I'm so confused!
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Feb 27, 2008, 01:06 PM
    The 1099 form that your bank sent should be labelled as 1099-INT, which is used to report interest income. You report that as taxable interest on whichever tax form you are using - either 1040EZ, 1040A, or 1040 - not on schedule C. Now tell us about the other 1099 form you received: is it a 1099-MISC? If so then you must file 1040. What amounts are shown in each box?
    emi123's Avatar
    emi123 Posts: 2, Reputation: 1
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    #3

    Feb 27, 2008, 05:35 PM
    I received a 1099 MISC for 14.00s and I also know that I have income from freelance writing but have not received a 1099 form because the amount was really low. Thank you for answering my question.
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