Form 1040 vs. Form 1040v 2024-2025

Good evening, friends. Here's a video I was talking about a couple of days ago, about getting out. In this video, I'm going to explain how to fill out the 1099 OID, the 1096, and the 1040V. I've got some mock-ups here to break this down and explain them to you. When you order these forms, they will come with instructions. It would behoove you to read these instructions, as there are very few and they tell you who's supposed to do it and who's not. This one, for instance, is super thin and there are two of them, the 1099, the I, and the OID. You'll only need to read about half of this. When you get the 1096, it's a little bit thicker, but it has a bunch of forms. So, all you really need to look at is your 1099 and your 1096. Take the time to read these instructions as they will provide beneficial information when you go to write and fill out the forms. The 1099 OID looks a lot like the 1099A. This is a scannable document that you have to order and fill out. You don't have to sign the back of the red one, as it already acts like a check. That's what the 1099A looks like. Now, let's talk about the 1096. Many of you already have these forms. You're going to use them to get the money from the treasury. The 1099A is used for both the acquisition and abandonment of secured property. So, when you acquire property or security from your trust, you are using the acquisition part of the 1099A. These forms all work together. If you're the dealer, you will get the 1099A from the beneficiary and fill out the other forms as well. Let me explain...