Calculating tax requirements In this activity, you will compare and contrast between W-2 and 1099 tax forms. Review the list of statements and determine which of the three categories it applies to: W-2, 1099, or both! Drag the right item into the right category Reports income earned in the previous year Counts towards total gross wages End of year tax form For self-employed individuals who earn but do not have taxes taken out Required for any compensation over $600 in a year Lists any deductions taken out of pay Typically has taxes withheld from income W-2 1099 Both