Do I have to report all of my 1099 income?
Yes! In fact, if you are due to receive one or more1099 forms this tax season, you bear a more burdensome recordkeeping duty than employees whose income is reported only on W-2s. Particularly if you are an independent contractor, you may receive a large number of 1099s. Some who have hired you may neglect to send the form to you. Regardless of the number of forms you receive or fail to receive, you are responsible for reporting to the IRS all income that should have been reported on this form. The IRS receives a copy of each Form 1099. Failure to report one or more of these amounts will certainly trigger questions from the IRS, if not a full audit.