Clients can expect a tax form 1099, of various kinds, if (this is not an exhaustive list):
- You took a distribution from an employer retirement plan, such as a 401(k) or 403(b)
- Including a rollover to an IRA, which isn’t considered a taxable event;
- You took a distribution from an IRA or a variable annuity;
- Including RMDs
- You have taxable, non-qualified investments that have paid out capital gains or dividends;
- You received other miscellaneous income, such as rents, prizes, or awards;
- You received nonemployee compensation, such as from consulting or a small business.