Questions tagged [form-1099-misc]

As of tax year 2020, the 1099-MISC form is used to report miscellaneous income such as rent. Independent contractor income is reported with a 1099-NEC.

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Possible incorrect tax exemption on form 1042-s? Where to show 1042-s interest income on 1040?

I have interest income on 1042-s, but was exempt from tax. My Box 3a is "02" and 4a is "15". "02" refers to - exempt under IRC (code should only be used if no other ...
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Is shareholder of A whose business travel cost reimbursed by company A once and receives no wages from A considered either employee or contractor?

Is a share-holder of company A who is paid for business travel costs by company A but does not receive any wages from company A and spends all their working hours for company B which has no ...
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Would a company send a 1099 to a person were it to issue a pre-payment for purchasing equipment?

Does a company send a 1099 to a person were it to provide a pre-payment for purchasing equipment? In other words, Does the intent of the payment matter in "non-employee compensation" in a ...
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What is the difference between "attorney's services" and "legal services" for 1099 box 10 guidelines?

Under section 6045(f), report in box 10 payments that: Are made to an attorney in the course of your trade or business in connection with legal services, but not for the attorney’s services, for ...
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Does anyone ever send a 1099 for amounts less than $600?

(As a US citizen) I have a small side business in addition to my regular full-time job. During a normal year, I receive several 1099 forms for this work, which I file and use Schedule C to pay my ...
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Income for medical professional on 1099-MISC vs 1099-NEC

My wife is a licensed medical professional who works as an independent contractor for Company X. The company handles billing to the clients and payments for services go to the Company. For 2021 tax ...
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Can I use the "Other Income" section of my W4 in lieu of paying quarterly taxes on 1099-NEC income? [duplicate]

I was looking at a IRS W-4 form recently and noticed that it had a section for "Other income (not from jobs)". So let's say you have a W-2 job and a 1099-NEC "job". You're not ...
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Filing jointly, can I pay estimated taxes on behalf of my wife's side work?

Quick background: I have an EFTPS account where I've paid estimated taxes in the past for some side work in programming. I haven't used it in years. My wife recently started a free lance writing gig ...
Andrew's user avatar
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Do I need to amend 2019 tax return?

Chase bank sent me 1099-MISC for $50 signup bonus when I opened a new account in 2019. I forgot to add this form while doing my taxes. This link says 1099-MISC should have at least $600. Since it is ...
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Should I have received 1099-MISC for bonus on new account opening?

I received a $100 signup bonus for opening a new account with CapitalOne Checking account in USA. I kept a low balance and received very little (less than $1) interest. They didn't send 1099-INT ...
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Can I deduct travel expenses even if I received a W-2?

I have a full-time job. I also work as a freelance musician playing for local theaters. One of the theaters I work for is in another city and they gave me a W-2 for the ~$1000 I made in 2020. ...
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If I own rental property, and hired a contractor in 2020, do I have to file form 1099-ENT with the IRS?

If I own rental property as a landlord, and hired a contractor in 2020, do I have to file form 1099-ENT with the IRS? By when? Is this the same as form 1099-MISC?
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Paid under the table prior to putting me on the books- recently told me they're issuing a 1099 for all the income they paid

I worked for a bit over 4 months under a verbal agreement that I would be paid off the books for purposes of still collecting unemployment during the pandemic. My employer recently let me know that I'...
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I received a PhD stipend that was not under a fellowship. How do I report it if it was meant to be research funding?

Normally my research advisor and professor gives me my stipend through the school, which processes it as a W-2 form. However, he moved to another university in 2018. To give me my funding for research,...
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Can I report 1099 income earned in December and paid in January in 2019? [duplicate]

I provided service in December 2019 and was paid on January 10th 2020 for that service. Can I report that in the 2019 tax filing period?
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Government knowledge of tax filing from industry as a self-employed individual

Say I am self-employed and work through 'X' platform. The platform claims to only report and/or provide tax documentation if you meet a certain threshold. Given I do not reach this threshold and the ...
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1099-MISC unearned income for dependent

Both my children (1 & 4) received a 1099-MISC for unearned income ($922) from our tribe's gambling profits. Do they need to be report?
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West Virginia or New Jersey state income taxes

I live in Texas. I receive oil and gas royalties income from my properties in West Virginia. I have the 1099-MISC. The company that sent me the 1099 MISC is located in New Jersey. What state do I ...
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H1B Temporary Worker/ 1099 MISC Income

I am a H1B temporary worker in the united states at the moment. Last year, there was a pilot TV series filming in our apartment of residence which resulted in some inconvenience for me as a resident. ...
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business expenses for previous year

It's my understanding that, right now (Feb 21) at least, I can put money into an IRA and have it count towards my 2019 taxes (if I haven't filed yet) instead of my 2020 taxes. Can I do the same for ...
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1099-MISC for dependent

My 16-yo (dependent in my returns) won a science fair competition in May 2019 and received a check for $2000. Last week we received a 1099-MISC with that amount in Box 3. How should I handle filing ...
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Employer didn’t treat J-1 intern as employee

I visited the US on a J-1 Visa as an intern for 7 weeks. My employer wasn’t withholding any income for taxes, so I paid estimated tax once I received my final paycheck with a plan for my employer to ...
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Form W-9 for payments between property management companies

I collect rent on behalf of a client, deduct a management fee, then send the remaining rent to the client. One client's residential property is leased by a company who is a "master tenant." This ...
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Is it necessary to pay quarterly earnings taxes in US?

I worked as an Independent Contractor (for the first time ever) during September and October which means that I owe quarterly taxes that are "due" on January 15th. I also worked as a full-time ...
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How do I avoid having my revenue taxed twice by the IRS?

I do affiliate marketing for a living. The commission payments get transferred into my business PayPal account and the various businesses also send me a 1099. Normally I would just list the 1099s on ...
PioneerMan's user avatar
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Do I have to wait for my W-2s to fill my tax return for the previous year?

First year out of college (and my first paid jobs ever). I worked at 3 different companies last year (2 as a full-time employee and 1 as an independent contractor (1099-MISC)). Do I need to wait for ...
Raj's user avatar
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Do foreign persons need to file 1099s?

Do foreign persons need to file 1099s. If so, how do they do so without a TIN? For example, let's say a foreign person visits the United States and hires a chauffeur and pays them several thousand ...
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How is a plumber different than a landscaper as far as requiring a 1099?

I have read blogs that claim I need to file a 1099 if I hire a gardener to mow my lawn or a snow plow guy to do my driveway and pay them more than $600 per year, even if that contractor has lots of ...
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1099-Misc Box 3 income that maybe should be Box 7

As my main job, I am a college math professor (W2 wages). Last summer (2018), independent of my main employer, I worked teaching math to high school students and was paid 10K for it. I received a 1099-...
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How to report 1099-MISC Box 7 bonus ($0 in box 3), but not an independent contractor and not self employed (payment from client of my employer)

I work for a concessions company, but I received a 1099-MISC from the company's client (the team). It's an end-of-year discretionary bonus for taking care of guests of the team as part of my normal ...
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How to deduct subway commuting and rent as a part-time remote contractor on a 1099-MISC?

I am working on a 1099-MISC as a consultant to a tech company. As an independent contractor, I decide the locations from where I provide my services. Most of the time, I am on site at the business ...
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Managed rental property: income from late fees. How to report on Schedule E?

We have a rental property that is managed by a property management company. This year, our tenants have paid late fees in addition to the rent. The management company filed these fees under Box 3, '...
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1099-Misc Box 3 Other Income

I am retired and receive a small amount from a family trust for which I am a trustee. When I was working I had more than enough earned income to make the maximun IRA and Spousal IRA contributions ...
Jim Corley's user avatar
2 votes
1 answer
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With which state/s must the payer file Form 1099-MISC?

I'm the president of a C corporation that's incorporated in Delaware. The C corp is physically located in Connecticut (where I live and work). My cofounder lives & works in Colorado. So, we have ...
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Why 1099-MISC for LLC but not a corporation?

I have a couple side gigs, and every January I get a little annoyed because I need to send out 1099-MISC forms for various payments to contractors and the like. According to IRS rules you must send ...
minou's user avatar
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Post tax HSA contribution but did not have HDHP for that year

I have an existing HSA but did not have a qualifed HDHP in 2017. I enrolled in a HSA-qualified HDHP for 2018 and made a post-tax contribution to my HSA in January, 2018 but it was applied to 2017. My ...
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Does one of the US Income Tax free file services allow for no-fee 1099 entry?

I've started to file my income tax with the HR Block free file service, but I'm getting hit with a 30 dollar upgrade prompt when I go to put in my 1099s. I have one capital gains 1099-MISC, one ...
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Can earnings reported in boxes 3 or 7 on a 1099-misc be contributed toward an IRA?

I'm trying to understand the 2017 IRA contribution limit as it relates to income reported in boxes 3 "other income" and 7 "Nonemployee compensation" on the 1099-misc. This is money paid to a graduate ...
Matt's user avatar
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1 answer
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Can I deduct some of the costs for a car if I write about it on my for-profit blog?

To preface, my goal is not to game the tax system. I'm trying to understand this to see if it is financially reasonable. So I am legitimately interested in starting a blog/YouTube channel in the tech ...
iq78's user avatar
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-1 votes
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Deducting purchase of investment property

I am buying a multi-family house as an investment property. I'll be buying it using an LLC that I use for investment properties. No part of the house will be my personal residence. Much of my income ...
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4 votes
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1099 Misc for taking care of foreign exchange students

I was asked to host 2 foreign exchange students. They will give me $2000 per month for expenses and a 1099 Misc at the end of the year. Will I be considered self employed? Will I have to pay social ...
Anita's user avatar
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Do I need to 1099 my attorney in a settlement that paid the attorney directly?

Do I need to send my attorney a 1099 if they were paid directly in a settlement but I got a 1099-Misc box 3 (other income) from the other party who paid the attorney the full amount of the settlement (...
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1099-MISC and state file taxes

I received 1099-misc for a work from home part-time job for $6,500. No state taxes were withheld. I'm located in Maryland and the employer is in Connecticut. Am I supposed to file state taxes for ...
user1573133's user avatar
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1 answer
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Is a signing bonus considered reportable income?

I received a $2,000 bonus for signing a Letter of Intent to sign a contract leasing our farm land to a solar energy developer. The lease ultimately fell through due to technical complications, but I ...
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Where to report 1099-Misc income and attorney expenses for a lawsuit settlement? [duplicate]

I personally received a 1099-Misc for a settlement income with a creditor that was incorrectly reporting information on my credit report. The settlement read in part: Bank agrees to pay Customer $...
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6 votes
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How to determine whether 1099-MISC income is from self-employment?

I have income that was reported on Form 1099-MISC, Box 7 (nonemployee compensation). I understand that if it is self-employment income, it should be reported on Schedules C and SE, and I would owe ...
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1 answer
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1099-MISC vs K-1 -- duplicated numbers?

I work for an investment management company (nothing fancy, just some administrative role) and had the opportunity to invest in the fund our company runs as a part of employee benefits. Anyways, now ...
CuriousMind's user avatar
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1 answer
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Made more than $600. Company does not issue 1099-MISC's. Enter income as general income?

I made well over the $600 threshold to receive a 1099-MISC from the company. I contacted the company and they stated that "We do not send tax forms to any publishers". I'm using Turbo Tax Business to ...
Daniel Storm's user avatar
2 votes
1 answer
190 views

Miscategorized income on 1099-MISC

Around the middle of last year, I sold a vacant lot I owned to a Texas oil company. (They had offered to buy mineral rights; as I'd been trying to get rid of this property for years, I suggested an ...
jasonharper's user avatar
3 votes
1 answer
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Could a legal settlement reported on 1099-MISC be taxed as capital gains?

I have a question regarding how a legal settlement payment should be handled for U.S. personal income tax purposes. This is a hypothetical scenario. A plaintiff agrees to accept a cash settlement ...
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