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IRS 1099-MISC PDF Form

The IRS 1099-MISC form is used to report various types of income received by individuals or businesses that are not classified as wages. This form is crucial for freelancers, independent contractors, and others who earn income outside of traditional employment. Understanding how to properly fill out and file this form can help ensure compliance with tax regulations and avoid potential penalties.

Customize IRS 1099-MISC

Customize IRS 1099-MISC

Table of Contents

The IRS 1099-MISC form plays a crucial role in reporting various types of income that are not classified as wages, salaries, or tips. This form is primarily used by businesses to report payments made to independent contractors, freelancers, and other non-employees who have earned $600 or more in a calendar year. It covers a range of income types, including rents, royalties, and other payments that may not fit neatly into other tax reporting categories. Understanding the 1099-MISC is essential for both payers and recipients, as it helps ensure compliance with tax regulations and provides a clear record of income received. Additionally, the form includes specific boxes for different types of payments, making it easier to categorize income accurately. Filing this form correctly and on time is vital to avoid penalties and ensure that both parties have the necessary documentation for their tax returns.

Common mistakes

Incorrect Recipient Information: One common mistake occurs when individuals fail to accurately enter the recipient's name or taxpayer identification number (TIN). This can lead to processing delays and potential penalties.
Improper Reporting of Income: Some filers misclassify the type of income reported on the form. For instance, payments that should be reported as nonemployee compensation may mistakenly be categorized under other types of income, resulting in incorrect tax obligations.
Missing or Incorrect Amounts: It is essential to ensure that the amounts reported on the 1099-MISC form are accurate. Errors in the monetary figures can cause discrepancies in the recipient's tax filings and may lead to audits.
Failure to File on Time: Timeliness is crucial when submitting the 1099-MISC form. Failing to file by the deadline can result in penalties and interest charges, complicating the tax situation for both the filer and the recipient.

Example - IRS 1099-MISC Form

Attention:

Copy A of this form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. The official printed version of Copy A of this IRS form is scannable, but the online version of it, printed from this website, is not. Do not print and file copy A downloaded from this website; a penalty may be imposed for filing with the IRS information return forms that can’t be scanned. See part O in the current General Instructions for Certain Information Returns, available at IRS.gov/Form1099, for more information about penalties.

Please note that Copy B and other copies of this form, which appear in black, may be downloaded and printed and used to satisfy the requirement to provide the information to the recipient.

If you have 10 or more information returns to file, you may be required to file e-file. Go to IRS.gov/InfoReturn for e-file options.

If you have fewer than 10 information returns to file, we strongly encourage you to e-file. If you want to file them on paper, you can place an order for the official IRS information returns, which include a scannable Copy A for filing with the IRS and all other applicable copies of the form, at IRS.gov/EmployerForms. We’ll mail you the forms you request and their instructions, as well as any publications you may order.

See Publications 1141, 1167, and 1179 for more information about printing these forms.

9595

VOID

CORRECTED

PAYER’S name, street address, city or town, state or province, country, ZIP

Rents

OMB No. 1545-0115

or foreign postal code, and telephone no.

Form 1099-MISC

Miscellaneous

Royalties

(Rev. January 2024)

Information

For calendar year

Other income

Federal income tax withheld

Copy A

For

PAYER’S TIN

RECIPIENT’S TIN

Fishing boat proceeds

Medical and health care

Internal Revenue

payments

Service Center

File with Form 1096.

RECIPIENT’S name

Payer made direct sales

Substitute payments in lieu

For Privacy Act

totaling $5,000 or more of

of dividends or interest

and Paperwork

consumer products to

recipient for resale

Reduction Act

Street address (including apt. no.)

Crop insurance proceeds

Gross proceeds paid to an

Notice, see the

attorney

current General

Instructions for

Certain

City or town, state or province, country, and ZIP or foreign postal code

Fish purchased for resale

Section 409A deferrals

Information

Returns.

13 FATCA filing

Excess golden parachute

Nonqualified deferred

requirement

payments

compensation

Account number (see instructions)

2nd TIN not.

State tax withheld

State/Payer’s state no.

18 State income

Form 1099-MISC (Rev. 1-2024)

Cat. No. 14425J

www.irs.gov/Form1099MISC

Department of the Treasury - Internal Revenue Service

Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page

	VOID	CORRECTED
PAYER’S name, street address, city or town, state or province, country, ZIP			1	Rents	OMB No. 1545-0115
or foreign postal code, and telephone no.
			$		Form 1099-MISC		Miscellaneous
			2	Royalties	(Rev. January 2024)			Information
					For calendar year
			$

			3	Other income	4	Federal income tax withheld		Copy 1
			$		$			For State Tax
PAYER’S TIN	RECIPIENT’S TIN		5	Fishing boat proceeds	6	Medical and health care		Department
						payments
			$		$
RECIPIENT’S name			7	Payer made direct sales	8	Substitute payments in lieu
				totaling $5,000 or more of		of dividends or interest
				consumer products to	$
				recipient for resale	$
Street address (including apt. no.)			9	Crop insurance proceeds	10	Gross proceeds paid to an
						attorney
			$		$
City or town, state or province, country, and ZIP or foreign postal code			11	Fish purchased for resale	12	Section 409A deferrals
			$		$
		13 FATCA filing	14	Excess golden parachute	15	Nonqualified deferred
		requirement		payments		compensation
			$		$
Account number (see instructions)			16	State tax withheld	17	State/Payer’s state no.		18 State income
			$					$
			$					$
Form 1099-MISC (Rev. 1-2024)		www.irs.gov/Form1099MISC				Department of the Treasury - Internal Revenue Service

CORRECTED (if checked)

PAYER’S name, street address, city or town, state or province, country, ZIP 1 Rents	OMB No. 1545-0115
or foreign postal code, and telephone no.

			$	Form 1099-MISC		Miscellaneous
			2 Royalties	(Rev. January 2024)			Information
				For calendar year
			$

			3 Other income	4 Federal income tax withheld			Copy B
			$	$			For Recipient
PAYER’S TIN	RECIPIENT’S TIN		5 Fishing boat proceeds	6	Medical and health care
					payments
			$	$
RECIPIENT’S name			7 Payer made direct sales	8	Substitute payments in lieu		This is important tax
			totaling $5,000 or more of		of dividends or interest		This is important tax
			consumer products to	$			information and is
			recipient for resale	$			being furnished to
Street address (including apt. no.)			9 Crop insurance proceeds	10	Gross proceeds paid to an		the IRS. If you are
					attorney		required to file a
			$	$			return, a negligence
			$	$			penalty or other
City or town, state or province, country, and ZIP or foreign postal code			11 Fish purchased for resale	12	Section 409A deferrals		sanction may be
							imposed on you if
			$	$			this income is
			$	$			taxable and the IRS
		13 FATCA filing 14 Excess golden parachute		15	Nonqualified deferred		determines that it
		requirement	payments		compensation		has not been
			$	$			reported.
			$	$
Account number (see instructions)			16 State tax withheld	17	State/Payer’s state no.		18 State income
			$				$
			$				$
Form 1099-MISC (Rev. 1-2024)	(keep for your records)		www.irs.gov/Form1099MISC		Department of the Treasury - Internal Revenue Service

Instructions for Recipient

Recipient’s taxpayer identification number (TIN). For your protection, this form may show only the last four digits of your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN). However, the payer has reported your complete TIN to the IRS.

Account number. May show an account or other unique number the payer assigned to distinguish your account.

Amounts shown may be subject to self-employment (SE) tax. Individuals should see the Instructions for Schedule SE (Form 1040). Corporations, fiduciaries, or partnerships must report the amounts on the appropriate line of their tax returns.

Form 1099-MISC incorrect? If this form is incorrect or has been issued in error, contact the payer. If you cannot get this form corrected, attach an explanation to your tax return and report your information correctly.

Box 1. Report rents from real estate on Schedule E (Form 1040). However, report rents on Schedule C (Form 1040) if you provided significant services to the tenant, sold real estate as a business, or rented personal property as a business. See Pub. 527.

Box 2. Report royalties from oil, gas, or mineral properties; copyrights; and patents on Schedule E (Form 1040). However, report payments for a working interest as explained in the Schedule E (Form 1040) instructions. For royalties on timber, coal, and iron ore, see Pub. 544.

Box 3. Generally, report this amount on the “Other income” line of Schedule 1 (Form 1040) and identify the payment. The amount shown may be payments received as the beneficiary of a deceased employee, prizes, awards, taxable damages, Indian gaming profits, or other taxable income. See Pub. 525. If it is trade or business income, report this amount on Schedule C or F (Form 1040).

Box 4. Shows backup withholding or withholding on Indian gaming profits. Generally, a payer must backup withhold if you did not furnish your TIN. See Form W-9 and Pub. 505 for more information. Report this amount on your income tax return as tax withheld.

Box 5. Shows the amount paid to you as a fishing boat crew member by the operator, who considers you to be self-employed. Self-employed individuals must report this amount on Schedule C (Form 1040). See Pub. 334.

Box 6. For individuals, report on Schedule C (Form 1040).

Box 7. If checked, consumer products totaling $5,000 or more were sold to you for resale, on a buy-sell, a deposit-commission, or other basis. Generally, report any income from your sale of these products on Schedule C (Form 1040).

Box 8. Shows substitute payments in lieu of dividends or tax-exempt interest received by your broker on your behalf as a result of a loan of your securities. Report on the “Other income” line of Schedule 1 (Form 1040).

Box 9. Report this amount on Schedule F (Form 1040).

Box 10. Shows gross proceeds paid to an attorney in connection with legal services. Report only the taxable part as income on your return.

Box 11. Shows the amount of cash you received for the sale of fish if you are in the trade or business of catching fish.

Box 12. May show current year deferrals as a nonemployee under a nonqualified deferred compensation (NQDC) plan that is subject to the requirements of section 409A plus any earnings on current and prior year deferrals.

Box 13. If the FATCA filing requirement box is checked, the payer is reporting on this Form 1099 to satisfy its account reporting requirement under chapter 4 of the Internal Revenue Code. You may also have a filing requirement. See the Instructions for Form 8938.

Box 14. Shows your total compensation of excess golden parachute payments subject to a 20% excise tax. See your tax return instructions for where to report.

Box 15. Shows income as a nonemployee under an NQDC plan that does not meet the requirements of section 409A. Any amount included in box 12 that is currently taxable is also included in this box. Report this amount as income on your tax return. This income is also subject to a substantial additional tax to be reported on Form 1040, 1040-SR, or 1040-NR. See the instructions for your tax return.

Boxes 16–18. Show state or local income tax withheld from the payments.

Future developments. For the latest information about developments related to Form 1099-MISC and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form1099MISC.

Free File Program. Go to www.irs.gov/FreeFile to see if you qualify for no-cost online federal tax preparation, e-filing, and direct deposit or payment options.

CORRECTED (if checked)

PAYER’S name, street address, city or town, state or province, country, ZIP 1 Rents	OMB No. 1545-0115
or foreign postal code, and telephone no.

			$		Form 1099-MISC		Miscellaneous
			2 Royalties		(Rev. January 2024)			Information
					For calendar year
			$

			3 Other income	4		Federal income tax withheld		Copy 2
			$	$				To be filed with
PAYER’S TIN	RECIPIENT’S TIN		5 Fishing boat proceeds	6		Medical and health care		recipient’s state
						payments		income tax return,
								when required.
			$	$
RECIPIENT’S name			7 Payer made direct sales	8		Substitute payments in lieu
			totaling $5,000 or more of			of dividends or interest
			consumer products to	$
			recipient for resale	$
Street address (including apt. no.)			9 Crop insurance proceeds	10		Gross proceeds paid to an
						attorney
			$	$
City or town, state or province, country, and ZIP or foreign postal code			11 Fish purchased for resale	12		Section 409A deferrals
			$	$
		13 FATCA filing 14 Excess golden parachute		15		Nonqualified deferred
		requirement	payments			compensation
			$	$
Account number (see instructions)			16 State tax withheld	17		State/Payer’s state no.		18 State income
			$					$
			$					$
Form 1099-MISC (Rev. 1-2024)	www.irs.gov/Form1099MISC					Department of the Treasury - Internal Revenue Service

More About IRS 1099-MISC

What is the IRS 1099-MISC form?

The IRS 1099-MISC form is used to report various types of income other than wages, salaries, and tips. This form is typically issued to independent contractors, freelancers, and other non-employees who have received payments from a business. It helps the IRS track income that may not be reported on a W-2 form.

Who needs to file a 1099-MISC?

If you are a business owner and have paid $600 or more to a non-employee for services during the tax year, you need to file a 1099-MISC for each recipient. This includes payments to independent contractors, rents, prizes, and awards. However, there are exceptions, such as payments made to corporations, which usually do not require a 1099-MISC.

When is the 1099-MISC due?

The 1099-MISC form must be sent to recipients by January 31 of the year following the tax year in which the payments were made. The form must also be filed with the IRS by the same date if you are filing electronically. If you are filing by mail, the deadline is typically February 28.

What information is required on the 1099-MISC?

When completing the 1099-MISC, you need to include the payer's name, address, and taxpayer identification number (TIN), as well as the recipient's name, address, and TIN. You will also report the total amount paid in the appropriate box, depending on the type of income. Be sure to double-check all information for accuracy.

What should I do if I made a mistake on a 1099-MISC?

If you discover an error after you have filed the 1099-MISC, you must correct it. To do this, fill out a new 1099-MISC with the correct information and mark it as a "corrected" form. Then, send the corrected form to the recipient and file it with the IRS as soon as possible to avoid penalties.

Are there penalties for not filing a 1099-MISC?

Yes, there are penalties for failing to file a 1099-MISC or for filing it late. The amount of the penalty can vary depending on how late the form is filed. If you do not file at all, the IRS may impose a higher penalty. It’s important to comply with the filing requirements to avoid unnecessary costs.

Can I file the 1099-MISC electronically?

Yes, you can file the 1099-MISC electronically. The IRS encourages electronic filing, especially if you are submitting 250 or more forms. Various software programs can assist with electronic filing, making the process easier and more efficient.

What if I did not receive a 1099-MISC but earned income?

If you earned income that should have been reported on a 1099-MISC but did not receive one, you are still responsible for reporting that income on your tax return. Contact the payer to request a copy of the form, and keep records of the income you received. It’s essential to report all income to avoid issues with the IRS.

Where can I find more information about the 1099-MISC?

For more information about the 1099-MISC form, you can visit the IRS website. The site offers detailed instructions and resources to help you understand your filing obligations. Additionally, consulting a tax professional can provide personalized guidance based on your specific situation.

Key takeaways

Filling out and using the IRS 1099-MISC form is an important task for businesses and individuals who make certain types of payments. Here are some key takeaways to keep in mind:

The 1099-MISC form is used to report various types of income other than wages, salaries, and tips.
Common payments that require a 1099-MISC include rent, prizes, awards, and payments to independent contractors.
If you pay $600 or more to a non-employee for services, you must issue a 1099-MISC.
Make sure to collect the correct information from the payee, including their name, address, and Taxpayer Identification Number (TIN).
Submit the form to the IRS by the deadline, which is typically January 31 for paper filing and electronic filing.
Keep copies of all 1099-MISC forms for your records, as they may be needed for future reference or audits.
Failure to file the 1099-MISC accurately and on time can result in penalties, so attention to detail is crucial.

Form Attributes

Fact Name	Description
Purpose	The IRS 1099-MISC form is used to report various types of income other than wages, salaries, and tips. This includes payments to independent contractors and rent payments.
Filing Deadline	The form must be filed with the IRS by January 31 of the year following the tax year in which the payments were made. Recipients must also receive their copies by this date.
Threshold Amount	Businesses must file a 1099-MISC form if they paid $600 or more to a non-employee for services during the tax year.
State-Specific Forms	Some states require their own versions of the 1099-MISC. For example, California requires the 1099-MISC to comply with California Revenue and Taxation Code Section 18662.
Additional Information	Since 2020, the IRS has introduced the 1099-NEC form for reporting non-employee compensation. The 1099-MISC is now used for other types of income.

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Dos and Don'ts

When filling out the IRS 1099-MISC form, there are several important dos and don'ts to keep in mind. This form is used to report various types of income other than wages, salaries, and tips. Here’s a helpful list to guide you through the process:

Do ensure you have the correct taxpayer identification number (TIN) for the recipient.
Don't forget to use the correct version of the form for the tax year you are reporting.
Do accurately report the total amount paid to the recipient in Box 7 if applicable.
Don't leave any required fields blank; this can lead to processing delays.
Do provide your own information in the payer section, including your name and address.
Don't submit the form electronically unless you are required to; paper forms are acceptable for many filers.
Do keep a copy of the completed form for your records.
Don't forget to send a copy of the 1099-MISC to the recipient by the deadline.
Do check for any state requirements regarding 1099 reporting.
Don't underestimate the importance of double-checking your entries for accuracy.

Following these guidelines can help ensure that you complete the IRS 1099-MISC form correctly, minimizing potential issues with the IRS and the recipients of the payments.