Because Form 1099-NEC is in use again, Form 1099-MISC is no longer used to report nonemployee compensation. Box seven of the 1099-MISC used to include nonemployee compensation, but it's now used ...

The new Form 1099-MISC included nonemployee compensation and other payments, such as rents, prizes, awards, and medical payments—and Form 1099-NEC was no longer needed. But this change also ...

When filling out Form 1099-MISC and Form 1099-NEC, make sure you have the right information for both you and the one who received the payment. You can find relevant information on the employee's W-9 .

When filling out Form 1099-MISC and Form 1099-NEC, make sure you have the right information for both you and the one who received the payment. You can find relevant information on the employee's W-9 .

Besides the filing of the 1099-NEC form, you will also need to have the payee fill out and sign a Form W-9. This is to get the correct Tax Payer Identification Number (TIN), like a Social Security ...

While Form 1099-MISC is used to report … Continue reading → The post Form 1099-MISC vs. 1099-NEC appeared first on SmartAsset Blog. ... Fri, Feb 3, 2023, 9:00 AM 5 min read.