What is Form 1099-MISC?
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Last modified 12/2/2020 1:39:13 AM EST |
Added by 123PayStubs Team
Form 1099-MISC (Miscellaneous Income) is used to report certain payment types, paid to an independent contractor. You might use Form 1099-MISC to report other income, such as rents or royalties.
You must file 1099-MISC Form if you make any of the following payments over $600 or more throughout the year:
- Royalties ($10 or more)
- Fishing boat proceeds
- Medical and health care payments
- Substitute payments in lieu of dividends or interest
- Crop insurance proceeds
- Excess golden parachute payments
- Gross proceeds paid to an attorney
- Nonemployee compensation
- Other payment types