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What kind of 1099? You have to report all your income on the same tax return. You can't file it separately.
There are 20 types of 1099's. 1099-R, 1099-C, 1099-MISC, 1099-DIV, 1099-INT, 1099-OID and on and on and on. What type of 1099 do you have? What gives you the impression that you can file it separately from your personal 1040 tax return?
Id like to know if possible.... I have a 1099 INT for cashing EE bonds, with roughly $4,500 interest in Box 3. Entering this into my filing caused federal return to go down $1,000!
That can happen. By increasing your income it also may have reduced any credits you were getting. In addition to the Tax you owe on it.
Thought id be paying 10%, not 22% based on my whole income bracket. Hardly makes these bonds worth it!
It may have also pushed you into a higher bracket.
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