You do not have to submit a paper copy of your 1099 to the IRS, but you do have to report the income listed on it. Although you're sometimes required to submit a paper copy of other documents, such as your W-2, the IRS does not require you to submit copies of your 1099. On the other hand, if you forgot to include the income information from the 1099 on your tax return, however, you need to amend the return by filing a form 1040X. With a 1040X, you need only make changes to the information you omitted or reported in error and then submit the 1040X to the IRS.
Fill out the basic identifying information on Form 1040X, such as your name, Social Security number, address and filing status. Be sure to indicate the year for which you are filing the amended return.
Fill in lines 1 through 14 on the 1040X by writing the information from your original tax return in column A and the correct amount in column C. For lines in which the two figures are different, write the difference in column B; otherwise, leave column B blank.
Total your payments on lines 15 and 16. Include the amounts you've paid for the tax year on line 15, and place the sum of lines 11 through 15 on line 16.
Determine whether the 1099 information you need to add affects other schedules and attach new, corrected schedules and forms as needed. For example, if your 1099 was from self-employment income, your Schedule C will typically need to be resubmitted using the correct information.
Calculate the amount of your expected refund or the amount you owe in taxes on lines 17 through 21. Refer to any overpayment amount that is listed on your original return to complete this section.
Explain your reason for amending your return in the box provided in Part III of the 1040X. For example, if you forgot to include information from one or more 1099s, state this.
Sign and date your 1040X, making a copy of the original form for your records. The IRS considers unsigned copies incomplete.
File your amended return before the current year's filing deadline to avoid penalties and interest for late payments. The IRS requires taxpayers to pay on time, even when they request tax filing extensions.
Mail your 1040X to the IRS. The IRS does not allow electronic filing of amended returns. The official instructions for the 1040X provide mailing address information, which varies by state.
Items you will need
- 1099 Forms
- IRS Form 1040X
- Your incorrect tax return
- If you forgot to report income on your state and local tax forms, contact the appropriate agency to learn the procedure for correcting your return. Some state and local tax agencies may require you to mail a copy of the 1099 in addition to correcting your tax forms.
- If you expect an additional refund because of your amended return, the IRS recommends filing a 1040X after you receive the original refund payment.
- If the deadline for tax filing has already passed, pay right away to minimize penalties and interest.
- Never assume the IRS won't notice the missing 1099 income. If you fail to report the income from a 1099, the IRS will most likely catch the error and apply not only the taxes you owe but also financial penalties and interest.
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