What is a 1099?

There are different versions of Form 1099. One of the most common is the 1099-MISC. This form is used to report miscellaneous income from work provided for an organization in which you are not an employee. It takes the place of a W-2 form from that employer. The form is also used to report winnings of $600 or more. In both cases, you will receive a 1099 statement via mail just as you would receive a W-2.