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2006-06-14 14:01:41 · 4 answers · asked by saba 2 in Business & Finance Taxes United States

4 answers

Form 1099-SSA is the form issued by the Social Security Administration stating your benefits for the preceding year. Its tax significance is explained at the link below:

http://www.irs.gov/publications/p915/ar01.html

2006-06-14 14:50:58 · answer #1 · answered by TaxGuru 4 · 1 1

Well, a 1099 form is much like a W2. Each are tax forms sent to folks who work for you. If you have an employee, at the end of the year you give them a W2 form to show their earnings for the year (it is sent to both IRS and the employee). If you have a contractor who has made more than $600 in any given year, you are supposed to send them a 1099 form (again both to the IRS and the contractor).

I hope that helps - I am not sure about the SSA portion of your question.

2006-06-14 21:06:47 · answer #2 · answered by carole 7 · 0 0

This is a form you will receive at the end of the year from the Social Security Administration showing the money you received during the year and how much, if any, you paid in Medicare B premiums and any taxes withheld out of your money.
Up to 85% of your Social Security could be taxable depending on your other income.
Medicare B premiums withheld can be used as medical deduction on Sched. A subject to 7 1/2 % of your income.

2006-06-17 19:41:44 · answer #3 · answered by lade40free 2 · 0 0

Answer # 2 is right on the money... That's exactly what it is: Social Security Administration Income.

2006-06-14 23:28:20 · answer #4 · answered by kalamity 3 · 0 0

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