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Level 1
January 29, 2020

Reporting non employee compensation for the 2019 TAX YEAR

  • January 29, 2020
  • 2 replies
  • 12 views

Which form should be used for a small business to report non employee compensation PAID OUT for the TAX YEAR 2019??    1099 MISC   OR 1099 NEC   ??

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    2 replies

    Level 8
    January 29, 2020

    The 1099-NEC is a part of the 1099-Misc.

    qbteachmt
    Level 15
    January 29, 2020

    1099-Misc still applies for 2019 for box 7.

    1099-NEC takes effect for 2020.

    IRS instructions tell you all about this.

    Don't yell at us; we're volunteers
    qbteachmt
    Level 15
    January 29, 2020
    Don't yell at us; we're volunteers