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W-2 and 1099 forms?
Can an employer give a employee a W-2 and a 1099 in the same year and if they do what are examples of who could file these documents and how?
Is this legal for a company to do?
3 Answers
- ?Lv 61 decade agoFavorite Answer
The W-2 is used to report employee income. The 1099 MISC is used to report income paid to independent contractors. If you happen to be an employee and an independent contractor for the same company it would be proper from them to send you both. I have also seen this for sales people that get residuals from manufactures for certain items they sell that are passed through the employer. In most cases you would need to attach a Schedule C to your return for the 1099MISC income from which you could deduct any expenses related to that activity.
- 1 decade ago
A w-2 is for employee income. 1099 is for contract labor. If you worked for a company as an employee and also did contract work outside of your regular duties you can receive both legally from the same company for the year.
To file the documents go to the IRS website. It will explain how to file a 1099 properly and legally. The two together will make up your total income for the year. The taxes of the W2 will make up total taxes paid. If you still aren't sure after reading the IRS guidelines, you should consider a tax preparer. It is better to pay the fee than risk making an error.
