Frequently-Used Tax Forms – Pradotaxservices

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Form #	Form Name	Description
Form 1040	U.S. Individual Income Tax Return	Form 1040 is used by U.S. taxpayers to file an annual income tax return.
Form 1040-ES	Estimated Tax for Individuals	Form 1040-ES is used to figure and pay your estimated tax. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, alimony, etc.)
Form 1041	U.S. Income Tax Return for Estates and Trusts	The Form 1041 is a tax return wherein the entity actually reports and pays its income taxes. However, it is also a return where such an entity may deduct certain income items from taxable income because that income is being reported on the income tax return(s) of the beneficiaries of the estate or trust.
Form 1065	U.S. Return of Partnership Income	Form 1065 is an information return used to report the income, gains, losses, deductions, credits, and other information from the operation. of a partnership. Generally, a partnership doesn't pay tax on its. income but passes through any profits or losses to its partners.
Form 1095-A	Health Insurance Marketplace Statement	Form 1095-A provides information about your insurance policy, your premiums (the cost you pay for insurance), any advance payment of premium tax credit and the people in your household covered by the policy. Insurance companies in healthcare exchanges provide you with the 1095-A form.
Form 1095-B	Health Coverage	Form 1095-B is used to report certain information to the IRS and to taxpayers about individuals who are covered by minimum essential coverage and therefore are not liable for the individual shared responsibility payment.
Form 1095-C	Employer-Provided Health Insurance Offer and Coverage	Form 1095-C is used to report certain information to the IRS and to taxpayers about individuals who are covered by minimum essential coverage and therefore are not liable for the individual shared responsibility payment.
Form 1098	Mortgage Interest Payment	Form 1098 is used to report mortgage interest of $600 or more received by you during the year in the course of your trade or business from an individual, including a sole proprietor.
Form 1098-E	Student Loan Interest Statement	Form 1098-E is used to report the amount of interest you paid on student loans in a calendar year. Loan servicers send a 1098-E to anyone who pays at least $600 in student loan interest.
Form 1098-T	Tuition Statement	Form 1098 is used to report mortgage interest and related expenses paid for the year. Lenders must issue Form 1098 when a homeowner has paid $600 or more in mortgage interest during the tax year. To deduct mortgage interest, you must be the primary borrower on the loan and actively make payments.
Form 1099-B	Proceeds from Broker and Barter Exchange Transactions	Form 1099-OID is used to report original issue discount interest as part of your income. How the OID on a long-term debt instrument is calculated depends on the date it was issued as well as on the type of debt instrument.
Form 1099-DIV	Dividends and Distribution	A typical reason for receiving a 1099-DIV form is because some of the investments you own paid dividends during the year. You won't file the 1099-DIV with the Internal Revenue Service, but you will need the information it reports when preparing your tax return.
Form 1099-G	Certain Government Payments	Form 1099-G is issued by a government agency to inform you of funds you have received that you may need to report on your federal income tax return. Box 1 of the 1099-G Form shows your total unemployment compensation payments for the year, which generally need to be reported as taxable income on Form 1040.
Form 1099-INT	Interest Income	Form 1099-INT is issued by all entities that pay interest income to investors during the tax year. It includes a breakdown of all types of interest income and related expenses. Payers must issue a 1099-INT by Jan. 31 of the new year for any party to whom they paid at least $10 of interest during the preceding year.
FORM 1099-LTC	Long Term Care and Accelerated Death Benefits	Form 1099-LTC is an important part of an individual's tax-filing obligation if you or someone you know received LTC benefits in the previous year. A variety of providers, including insurance companies and governmental entities, should furnish anyone who received such benefits with this form.
Form 1099-MISC	Miscellaneous Information	Form 1099-MISC: Miscellaneous Information is an Internal Revenue Service (IRS) form used to report certain types of miscellaneous compensation, such as rent, prizes, awards, healthcare payments, and payments to an attorney.
Form 1099-NEC	Nonemployee Compensation	The 1099-NEC is the form to report non-employee compensation. This is pay from 1099 independent contractor jobs (or gigs). This is also often referred to as "self-employment income."
Form 1099-OID	Original Issue Discount	Form 1099-OID, Original Issue Discount, exists to report income when bonds, notes, or certificates of deposit (CDs) are sold at a discount from their maturity value.
Form 1099-R	Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.	Form 1099-R is the Internal Revenue Service form reporting a taxpayer's distributions from pensions, annuities, IRAs, insurance contracts, profit-sharing plans and/or retirement plans (including section 457 state and local government plans).
Form 1099-S	Proceeds from Real Estate Transactions	Form 1099-SA is used to report gross proceeds from the sale of real estate (and certain other transactions).
Form 1099-SA	Distributions From an HSA, Archer MSA, or Medicare Advantage MSA	Form 1099-SA is used to report distributions made from a health savings account (HSA), Archer medical savings account (Archer MSA), or Medicare Advantage medical savings account (MA MSA). Its purpose is to show you (and the Internal Revenue Service) how much money you spent from your account.
Form 1099-SSA	Social Security Benefit Statement	Form 1099-SSA is a form that the Social Security Administration (SSA) mails in January to those who receive Social Security benefits. It shows the total amount of benefits you received from us in the previous year. It also tells you how much Social Security income to report to the Internal Revenue Service (IRS) on your tax return.
Form 1120	Corporate Income Tax Return	Form 1120 is an IRS form that C corporations use to report their income, gains, losses, deductions, and credits, as well as calculate their income tax liability
Form 1120-S	U.S. Income Tax Return for an S Corporation	Form 1120-S is used to report income or gains, losses, tax deductions, and business tax credits for an S-corporation. To elect to file as an S-corporation, a business must first file IRS Form 2553. This form notifies the IRS that the company meets the legal requirements of an S-Corp.
Form 540	California Resident Income Tax Return	Form 540 is an essential document used for filing state income taxes in certain U.S. states. It is primarily used by residents of California, where it replaces the standard federal income tax return. The form enables taxpayers to report their income, deductions, and credits for state tax purposes.
Form 5498	IRA Contribution Information (Info Copy Only)	The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, rollovers, repayments, required minimum distributions (RMDs), and the fair market value (FMV) of the account.
Form 5498-ESA	Coverdell ESA Contribution Information	Form 5498-ESA is used to report contributions and rollovers made to a Coverdell Education Savings Account for a given tax year. Find more information about Coverdell Education Savings Accounts.
Form 5498-QA	ABLE Account Contribution Information	The information on Form 5498-QA is furnished to you by the issuer of your Achieving a Better Life Experience (ABLE) savings account. Form 5498-QA reports contributions, rollovers, and program-to-program transfers to this ABLE account for 2024.
Form 5498-SA	HSA, Archer MSA, or Medicare Advantage MSA Information	Form 5498-SA reports the total amount of contributions an employee made to a health-related savings account during a given tax year.
Form W2-G	Corrected Wage and Tax Statements	Form W-2 is completed by an employer and contains important information that you need to complete your tax return. It reports your total wages for the year and the amount of federal, state, and other taxes withheld from your paycheck. It may also contain information about: Tips, Contributions to a 401(k), Contributions to a health savings account, Premiums your employer pays for health coverage and/or other information
Form W4	Employee’s Withholding Certificate	Employees use Form W-4 is used to record their filing status, multiple jobs adjustments, amount of credits, amount of other income, amount of deductions, and any additional amount to withhold from each paycheck to use to compute the amount of federal income tax to deduct and withhold from the employee's pay.
Form-W2	Wage and Tax Statement	Every employer engaged in a trade or business who pays remuneration, including noncash payments of $600 or more for the year (all amounts if any income, social security, or Medicare tax was withheld) for services performed by an employee must file a Form W-2 for each employee (even if the employee is related to the employer) from whom: Income, Social Security, or Medicare tax was withheld. Income tax would have been withheld if the employee had claimed no more than one withholding allowance or had not claimed exemption from withholding on Form W-4, Employee's Withholding Allowance Certificate.
SCHEDULE K-1	U.S. Return of Partnership Income	Schedule K-1 is an Internal Revenue Service (IRS) tax form issued annually for an investment in a partnership. The purpose of Schedule K-1 is to report each partner's share of the partnership's earnings, losses, deductions, and credits.