The Tax Forms Retirees Are Receiving in 2026 and What They're For
Knowing what forms you're getting and why is important so you can ensure that you and your tax preparer have what's needed to file your taxes.
I'm an IRS enrolled agent, which in IRS terms is the highest license it issues to prepare taxes and represent taxpayers. The reality of the situation is that I have the same unhappy and annoyed feelings you do every time tax season rolls around.
As you start or, if you were a straight-A student in high school, wrap up this annual journey, I would encourage you to make sure you are not missing any forms. This seems obvious, but every single year, we catch issues on prospective client returns that necessitate amended returns.
Many institutions also now provide forms only electronically, which I believe causes many taxpayers to miss them.
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Two helpful tools in this review are a balance sheet and a year-over-year comparison. If you have a balance sheet that lists your assets, you can just go line by line and see if there is a tax form associated with each account, asset or liability.
If you don't have a balance sheet, you can use the free version of the software we use.
Most accountants will create a two- or three-year comparison. If numbers are jumping all over the place, I would try to figure out why.
Let's start with what is totally new in 2026 for tax year 2025. This is by no means a comprehensive list, but it highlights some of the bigger changes.
Schedule 1-A. This is not a form, but rather a schedule that is part of Form 1040. My apologies for jumping into the jargon deep end so quickly. Forms report income or deductions, and they all get aggregated and reported on the 1040.
Schedule 1-A is a calculation of sorts that will tell you how much you can deduct on the first part of the 1040, and it looks different than last year.
The One Big Beautiful Bill Act (OBBBA, rebranding pending) necessitated this as there are many new deductions. Tip income, overtime income, vehicle loan interest and the enhanced deduction for people age 65-plus all get reported here.
Form 1099-DA. You have always had to report digital asset transactions, but this is the first year that there is an actual form. If your kids persuaded you to buy or sell bitcoin, ethereum or any cryptocurrency or Bored Ape NFT, you will receive this form.
Form 1098-VLI. VLI stands for vehicle loan interest. The toughest part of this one is not the form, it's whether you qualify for the deduction. Most people will not.
Additionally, not all loan providers will send you this form, as it is not yet required. If you do qualify, you can pull the interest from a loan statement.
W-2. Maybe not so much anymore, but this is the form that documents your calendar-year earnings from an employer. So, if you are an employee, full or part time, you receive a W-2.
1098. My experience is that these forms are some of the earliest to arrive. They document deductible interest, most commonly in the form of a mortgage.
An important note here: When you refinance, you will have two different 1098s for the calendar year. If you don't file both, you will not be taking the full deduction.
Schedule K-1. This is income passed through to those who hold interests in business. They are the bane of most CPAs' existence because they notoriously arrive later than everything else. K-1s are most commonly associated with ownership of a business, partnership or trust income.
If you are receiving a K-1 but don't think you have any of the above, it is probably the result of an alternative investment.
The 1099 family
1099-NEC. You've probably heard the question (hopefully not from me), "Are you 1099 or W-2?" This is just tax jargon for "Are you an employee or an independent contractor?"
Independent contractors will receive a 1099-NEC for their work. Most of my public-speaking engagements are reported in this format.
If you are doing limited consulting engagements and earn more than $600 in any calendar year, you will receive a 1099-NEC.
1099-R. First year of required minimum distributions (RMDs)? First year of retirement? Did a Roth conversion last year for the first time? Welcome to the 1099-R, which captures all sorts of distributions that you will likely pay income tax on.
A common exception to the income tax statement above is a direct rollover. If you rolled money directly from an employer-based plan into an IRA, this would also generate a 1099.
This can be scary, as it's not uncommon that there are a few million bucks. If Box 7 shows code "G," that means the transaction is non-taxable.
SSA-1099. If you're collecting Social Security benefits, guess what? They're taxable! However, they're not quite as taxable as the category above. Social Security benefits for most of our clients are 85% taxable. This does not mean you pay 85% in taxes.
Here's an example: You receive $30,000 in Social Security benefits. That amount lands on Line 6a of your tax return (Form 1040). $25,500, or 85% of that amount, shows on Line 6b. Line 6b is what you actually pay taxes on based on whatever your income tax bracket is.
1099-INT. Interest is back, baby! Just don't forget to pay Uncle Sam his cut. This form reports, as it sounds, interest income from banks or brokerage accounts, including CDs. If you earned $10 or more in interest in a calendar year, you will receive a 1099-INT.
Believe it or not, there are still plenty of account types at big banks paying no interest. If you are missing a 1099-INT from a bank account, this is a good reminder to either go find it, or to move your money somewhere that actually pays you.
1099-DIV. This reports dividends paid inside of taxable accounts: Individual, joint and revocable trusts. Whether these dividends are reinvested, they are taxable in the year received.
1099-B. This documents transactions in any given year. Crushed it with Nvidia last year? 1099-B. Lost your shirt with Moderna or Pfizer? 1099-B. These transactions then get consolidated onto a Schedule D.
1099-MISC. Sort of a catch-all that catches less than it used to. This used to include income that is now reported on 1099-NEC. Now, it is used to report rents, prizes and awards and other nonemployee compensation.
Composite 1099. Thank goodness for the composite. Think of this like a book, and the 1099-INT, 1099-DIV, 1099-B and 1099-MISC are the chapters. The composite combines these four and is common at most brokerages.
Therefore, most brokerage accounts will have just one 1099 that you need to send along or upload in any given year.
All of these forms then get moved over to schedules and consolidated on Form 1040. Confused? I understand. Let me know if we can help.
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