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IRS Form 1099 and 1098 Reporting: What You Need to Know in New Mexico

Survive 1099 and 1098 reporting requirements and increase your filing savvy. Independent contractors save your business money, but increasing IRS scrutiny can put you at risk. Fail to meet all the 1099 filing requirements, and you may land in a hotbed of penalties. With a maze of 1099 forms, and confusing and ever-changing IRS reporting guidelines, mastering the 1099 can be a daunting task for any business. Purchase these reference materials and sharpen your 1099 and 1098 savvy. Our experienced local professional will help you develop better, more accurate reporting skills keep your business audit-ready and in compliance. Benefits for You - Save time and hassle using tips on complying with reporting requirements - Pinpoint when to issue a W-2 or 1099 form - Tackle your 1099-MISC questions - Walk through the 1099 and 1098 series of forms with ease know which form you need to use
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Independent Contractor vs. Employee
  • Form 1099-MISC and W-2
Investments
  • Form 1099-INT Interest Income
  • 1099-DIV Dividend and Distributions
  • 1099-OID Original Issue Discount
  • 1099-B Proceeds From Broker and Barter Exchange Transactions
  • Consolidated 1099s
  • Form 1096
Real Estate
  • Form 1099-a Acquisition or Abandonment of Property
  • 1099-C Cancellation of Debt
  • 1099-S Proceeds From Real Estate Transactions
  • 1098 Mortgage Interest
  • 1098-MA Mortgage Assistance Payments
Health Care
  • 1099-H Health Coverage Tax Credit
  • 1099-LTC Long Term Care and Accelerated Death Benefits
  • 1099SA Distributions From a HSA, Archer MSA or Medicare Advantage MSA
Education
  • 1098-E Student Loan Interest
  • 1099-Q Payments From Qualified Education Programs (529 and 530 Plans)
  • 1098-T Tuition Statement
Other Miscellaneous Forms
  • Form 1099-R Retirement Plan Distributions
  • 1099-G Certain Government Payments
  • 1099-K Payment Card and Third-Party Network Transactions
  • 1099-PATR Taxable Distributions Received From Cooperatives
  • 1097-BTC Bond Tax Credit
  • 1098-C Contributions of Motor Vehicles, Boats and Airplanes
  • Software Providers
  • Quiz
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Manual

No credit available.

Online Manual

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Earl Collison, NTPI

Barraclough & Associates, P.C.

  • Enrolled agent, NTPI, National Tax Practice Institute fellow
  • Individual, nonprofit and fiduciary taxes
  • 20 years teaching for the University of Maryland
  • Ph.D., University of Edinburgh, Scotland
  • Can be contacted at 505-983-3387 or earl@barraclough.com
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 393066
Published 2014
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