Gains from a sale, or interest earned on a deposit are income, and must be reported.
For what? If any portion of the debt was dismissed already, then you MUST send a 1099-C. But if they filed, are on a plan, etc., the only 1099 you need tos end is the one you would have anyway.
Depends on the type of income. Even 1c of interest income must be reported and filed on a 1099 for example.
1099-b
If you haven't filed your taxes yet, just include it with all of your other 1099s. If you have filed your taxes and the 1099 makes a material difference, then you have to file an amended return.
Pennsylvania only requires that a 1099-R be filed with the State. Just keep your 1099-Misc. state copies with your payer copies.
YES! They are filed together! YES! They are filed together!
No, according to filetaxes.com
Form 1099-A is Acquisition or Abandonment of Secured Property. Generally, Form 1099-A must be filed by any person or entity who lends money in connection with their trade or business and, to satisfy partially or fully that debt, gains an interest in property that's secured for that debt or knows that the secured property has been abandoned. The person or entity doesn't need to be in the business of lending money to be required to file Form 1099-A.Form 1099-OID is Original Issue Discount. OID is the excess of redemption price at maturity over the issue price. OID is taxable and must be included in the recipient's income each year. Form 1099-OID is filed by the payer if the OID is at least $10. Payers include a broker or other middleman with an OID obligation (including CDs) as nominee for the actual owner. Also, a financial institution offering time deposits or bonus-savings plans with OID and one-year terms needs to file Form 1099-OID if the OID is at least $10. Copy A of Form 1099-A and Form 1099-OID must be filed by the lender/payer with the IRS by March 1. If filing electronically, then the due date is extended to March 31.
The State is irrelevant. These are Federal Laws as the 1099 is a Federal form. Generally, $600 is the threshold that requires a 1099 to be filed. However, if your an employee or there is withholding, etc., any amount is enough.
There is a group of forms that begin with 1099, like 1099-A, 1099-DIV, 1099-INT, 1099-R, etc. These are known as "information returns." They are filed by certain entities that pay money to people or other entities in order to inform the IRS that a potentially taxable transaction has occurred.
The penalty will not apply; if You show a reasonable cause before the 1099 Deadline. You provide the correct information as shown on the payee’s tax return. Filed corrections before the deadline.
Sure....and even without it, to actually close everything out the best, i should think you would want to have a final return filed.