Types of Income and Assets Received in IEVS Hits 448-01-50-10-65

(Revised 3/1/12 ML #3304)

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The following listing includes the types of income and assets received in IEVS hits to assist eligibility workers in understanding the data received:

 

  1. W2-G – Statement of Gambling Winnings.

Gambling Winnings - Types of gambling winnings include horse racing, dog racing, sweepstakes, wagering pools, lotteries, bingo, keno, slot machines, and other wagering transactions.

  1. 1041-K1 – Beneficiary’s Share of Income, Credits, Deductions, etc.

Dividends – Distribution of money, stock, or other property from an estate or trust.

 

 

 

 

  1. 1065-K1 – Is an information return used to report the income, deductions, gains, losses, etc., from the operation of a partnership. A partnership does not pay tax on its income and passes through any profits or losses to its partners.

 

 

 

 

 

 

 

 

  1. 1120S K1 – Shareholder’s Share of Undistributed Taxable Income, Credits, Deductions, etc.

 

 

 

 

 

 

 

  1. 1099-G – Statement for Recipients of Certain Government Payments

Unemployment Compensation – Payments of unemployment compensation including Unemployment Compensation paid by Railroad Retirement Board payments.

 

 

 

  1. 1099-DIV – Statement for Recipients of Dividends and Distributions – Is used to report dividends and distributions for each person: to whom an individual has paid dividends (including capital gains dividends) and other distributions on stock of $10 or more; for whom an individual has withheld and paid any foreign tax on dividends and other distributions on stock; for whom an individual has withheld any federal income tax under the backup withholding rules; or to whom an individual paid $600 or more as part of a liquidation.

 

 

 

 

 

 

 

 

  1. 1099-INT – Statement of Recipients of Interest Income

 

 

 

 

  1. 1099-PATR – Statement for Recipients of Taxable Distributions Received from Cooperatives.

 

 

 

 

  1. 1099-B – Statement for Recipients of Proceeds from Real Estate Brokers and Barters Exchange Transaction

 

Items below relate to the proceeds from broker and barter exchange transactions. Form 1099-B reports proceeds paid from broker and barter exchange transactions for each person for whom the broker has sold (including short sales) stock, bonds, commodities, regulated futures, contracts, foreign currency contracts, forward contracts, debt instruments, etc., or who exchanged property or services through the barter exchange.

 

 

 

 

  1. 1099-MISC – Statements for Recipients of Miscellaneous Income

Medical Payments – Payments made in the course of trade or business to each physician or other supplier or provider of medical or health care services, including payments made by medical and health care insurer under health, accident, and sickness insurance programs.

 

 

 

 

  1. 1099-OID – Statement for Recipients of Original Issue Discount.

 

 

 

  1. 1099-R – Distributions from Pensions, Annuities, Retirement or Profit–Sharing Plans, IRA’s, Insurance Contracts, etc.

 

 

 

  1. 1099-LTC – Distributions from Long Term Care Insurance Contract, gross benefits, and accelerated death benefits paid.

 

  1. 1099-MSA – Distributions from Medical Savings Accounts, earnings on distributive excess contributions and gross benefits.

 

  1. SSA-1099 – Social Security Benefit Statement – Total benefits paid – gross amount of benefits the individual is entitled to for the current tax year. This amount is prior to subtracting the amount of any benefit checks returned, adjustments for disability payments, work, overpayments or cash repayments.

 

  1. 1099-S – Statement for Recipients of Proceeds from Real Estate Transactions.