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Form 1099-DIV online Stockton California: What You Should Know

You can now use Form 1099-NEC form for reporting to the IRS. You can use Form 1099-NEC to report any taxable gain that you received when you sold, purchased, or gave away the qualifying property during the 10-year period ending on the date you received the Form 1099-NEC. Also use 1099-NEC to report an increase/downturn in property value. “California doesn't use 1099-NEC as a form of accounting. It is the recipient's responsibility to determine and report information on a Form 1099-NEC that could be required by the IRS. If you haven't already registered for a California property tax return, you need to do so to report the new property tax classification of the qualifying property that you sold or inherited.

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