1. Form 1099-NEC (Nonemployee Compensation)

Box 3 on Form 1099-NEC, which wasn’t previously used, is now intended for reporting excess golden parachute payments. If you pay a large severance or termination package to an executive, you’ll report it here. This update keeps the form focused on its main purpose: tracking nonemployee compensation.

2. Form 1099-MISC (Miscellaneous Income)

Box 14 on Form 1099-MISC, which previously reported excess golden parachute payments to executives, is now reserved for future use. These payments should no longer be reported on this form for the 2025 tax year.

3. Form 1099-K (Payment Card and Third-Party Network Transactions)

Originally, the IRS planned to lower the Form 1099-K reporting threshold to $2,500 for 2025 and $600 for 2026, with no minimum number of transactions. However, these lower thresholds have been rolled back. Under the current rules, following the passage of the One Big Beautiful Bill, the threshold for 2025 and future years has reverted to $20,000 in payments and at least 200 transactions.

4. Form 1099-Q (Qualified Education Program Distributions)

The IRS has updated Form 1099-Q to clarify how distributions from Qualified Education Programs ( under sections 529 and 530) should be reported. Box (4a, 4b) now specifies the type of transfer, distinguishing between trustee-to-trustee transfers from QTPs, Coverdell ESAs, or ABLE accounts (4a) and direct transfers from a QTP to a Roth IRA (4b). Additionally, Box (5a, 5b, 5c) identifies the source of the distribution, indicating whether it comes from a private QTP, a state-sponsored QTP, or a Coverdell ESA.

5. Form 1099-R (Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc)

Form 1099-R now includes new Box 7 codes for Qualified Charitable Distributions (QCDs), which are tax-free donations made directly from an IRA to a qualified charity. The codes indicate whether the QCD comes from a non-inherited IRA (normal distribution), an inherited IRA (death distribution), or traditional IRA assets that do not have a fair market value (FMV).

6. Form 1099-S (Proceeds from Real Estate Transactions)

Form 1099-S has been updated for improved clarity. The filer's and transferor's address information is now presented in separate entry boxes. Box 2 for total gross proceeds has been divided into categories for total, cash, and digital asset gross proceeds. Additionally, the checkboxes for buyer's tax, non-cash consideration, and foreign person have been reorganized. A new section for digital asset details (boxes 8a to 8d) has been added, while box 5 is now reserved for future use.

7. Form 1099-G (Certain Government Payments)

Form 1099-G added Box 10 for reporting state-paid family and medical leave benefits. As a result, the state-related boxes were renumbered. Additionally, the payer’s and recipient’s addresses are now split into separate fields for clearer and more accurate reporting.

8. Form 1099-B (Proceeds from Broker and Barter Exchange Transactions)

Form 1099-B now lists payer and recipient details in separate fields, rather than combining them into a single field. Each name, address, suite/apartment number, city, state, country, ZIP, and TIN is entered individually, making the form clearer and more accurate

9. Form 1099-DA (Digital Asset Proceeds from Broker Transactions)

Form 1099-DA is a new addition for the 2025 tax year. If your platform or business handles digital assets, you are required to report these transactions on Form 1099-DA. Brokers must report details of each sale, while cost basis reporting will begin in 2026.