Receiving 1099 Forms for Sweepstakes Taxes

Are you getting ready to do your 2007 taxes? Have you received a 1099 form and don't know what to do with it? Or maybe you haven't received a 1099 form, even though you should. Well, I've got some answers for you.

Sweepstakes prizes are taxed like any other form of income in the United States. If you are a U.S. citizen and won any prizes where you had to fill out an affidavit with your social security number to receive them, then you can look forward to getting a 1099 form in your mail (if you haven't already). Learn what a 1099 form is, when it should arrive, what to do if it doesn't show up, and what to do if the prize value listed on it is inflated, in my new article on Receiving 1099 Forms for Sweepstakes Taxes.

Do you have any unanswered questions about sweepstakes taxes? Stop by the Contests Forum to get answers!

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