Hello; I plan to start self-publishing with Kindle next year, and I want to be prepared and know how to do my taxes way ahead of time. That being said, are 1099-misc forms filed once a year or every quarter?
A 1099 is a form that Amazon will give you, once a year (probably early February), to show you (assuming you're in the US) how much you made in the last year. You don't actually file the form with your 1040, but you do have to report the amount. Unless you start selling very well, so you owe quarterly taxes, your KDP royalties won't affect your income and taxes very much. Good luck!
To clarify, Notjohn is talking about generating a 1099 for someone you've paid to do business work, for your business. YOU are talking about what to do with the 1099 you receive, which is a different topic.
So is the 1040 form the one that Amazon provides based on kdp income?
Regarding my previous taxes, I've filed mostly W2s. What would be the Amazon KDP equivalent, and would I file this once a year or quarterly?
Your writing income and expenses would be on Schedule C, form 1040 (assuming you write as yourself and not under the umbrella of a corporation or LLC). Amazon will provide you a 1099 after the end of the year. You use that information to fill out the income portion of the Schedule C. You don't have to send in the 1099 unless it shows that tax was withheld on your earnings (which they probably won't be).
You don't have to file quarterly estimated taxes unless you really start earning royalties. I'm sure the IRS has on-line booklets about filing quarterly estimated taxes; I'd look for one of those. Note: probably best to google for that but pick only the IRS site hits to look at.
They send one per year, unless you're set up as a corporation. Corporations don't get them, since a corporation may: A) have a non-calendar fiscal year and/or B) file taxes on an accrual basis. A 1099 is useless in either of those situations.