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Blank IRS 1099-MISC Template

The IRS 1099-MISC form is a tax document used to report various types of income other than wages, salaries, and tips. This form is essential for freelancers, contractors, and businesses to accurately report payments made throughout the year. Understanding how to fill out the 1099-MISC can simplify your tax filing process, so be sure to take the time to learn more about it.

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The IRS 1099-MISC form serves as a crucial document for reporting various types of income received by individuals and businesses outside of traditional employment. This form is typically utilized by independent contractors, freelancers, and other self-employed individuals who earn $600 or more in a calendar year from a single payer. It is important to note that the 1099-MISC is also used to report other payments, such as rents, royalties, and certain legal settlements. The payer is responsible for providing a copy of the form to the recipient and submitting it to the IRS, ensuring that all reported income is accurately documented for tax purposes. Understanding the key elements of the 1099-MISC, including its deadlines and filing requirements, is essential for both payers and recipients to maintain compliance with tax regulations. Failure to properly report income on this form may lead to penalties or additional scrutiny from the IRS. As such, familiarity with the 1099-MISC is vital for anyone who receives income that falls under its purview.

Document Example

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

Frequently Asked Questions

What is the IRS 1099-MISC form?

The IRS 1099-MISC form is used to report various types of income that are not considered wages. This includes payments made to independent contractors, rent payments, prizes, awards, and other forms of income. If you’ve paid someone $600 or more in a calendar year for services provided, you’ll likely need to issue a 1099-MISC to that individual.
Who needs to file a 1099-MISC?

Any business, including sole proprietorships, partnerships, and corporations, may need to file a 1099-MISC if they have made qualifying payments. This could be to freelancers, contractors, or vendors. If you’re a self-employed individual and you receive payments from clients, they may need to send you a 1099-MISC as well.
When is the 1099-MISC form due?

The 1099-MISC form must be filed with the IRS by January 31 of the year following the tax year in which the payments were made. For recipients, the form must also be provided to them by this same date. It’s essential to keep track of these deadlines to avoid potential penalties.
What happens if I don’t file a 1099-MISC?

Failing to file a 1099-MISC can lead to penalties from the IRS. These penalties can vary based on how late the form is filed, with fees escalating the longer you wait. Additionally, if you don’t provide the form to the recipient, they may face challenges when filing their own taxes. It’s best to stay compliant to avoid these issues.

Misconceptions

Understanding the IRS 1099-MISC form is crucial for anyone who receives income that isn't reported on a W-2. However, several misconceptions can lead to confusion. Here are five common misunderstandings about the 1099-MISC form:

Only Businesses Receive 1099-MISC Forms: Many people think that only businesses need to worry about this form. In reality, anyone who earns income from freelance work, rental properties, or other non-employee sources may receive a 1099-MISC.
All Payments Are Reported on 1099-MISC: Some assume that every payment they receive will be reported on this form. However, not all payments qualify. For example, personal payments or amounts under $600 typically do not require a 1099-MISC.
Receiving a 1099-MISC Means You Owe Taxes: There is a belief that receiving this form automatically means you owe taxes. While it does indicate income, your overall tax liability depends on various factors, including deductions and credits.
1099-MISC Forms Are Only for Independent Contractors: This form is often associated with independent contractors, but it is also used for various other payments, such as rent, prizes, and awards. Understanding the full scope of the form is essential.
You Can Ignore a 1099-MISC: Some individuals think they can disregard a 1099-MISC if they believe it’s incorrect. Ignoring this form can lead to complications. It’s important to address any discrepancies with the issuer and report accurate income on your tax return.

Being informed about these misconceptions can help ensure that you handle your tax responsibilities correctly. If you receive a 1099-MISC, review it carefully and consult with a tax professional if you have questions.

Common mistakes

Incorrect Recipient Information: Many individuals fail to provide accurate names and addresses for the recipients. This can lead to delays and complications in processing. Always double-check that the name matches the recipient's tax identification documents.
Wrong Tax Identification Number (TIN): Entering an incorrect TIN is a common error. This number must match the IRS records. If it doesn’t, the IRS may impose penalties or the recipient may face issues with their tax return.
Improper Amount Reporting: Some people miscalculate the amounts paid to recipients. Ensure that the total reported reflects the actual payments made during the year. Double-check your calculations to avoid underreporting or overreporting.
Missing Signature: Failing to sign the form can render it invalid. Always remember to sign and date the form before submission. This simple step is crucial for compliance.
Not Filing on Time: Timeliness is key. Many individuals overlook the filing deadlines. Late submissions can lead to penalties. Mark your calendar and plan ahead to avoid last-minute rushes.

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Document Data

Fact Name	Description
Purpose	The IRS 1099-MISC form is used to report miscellaneous income paid to non-employees, such as independent contractors.
Threshold	Businesses must issue a 1099-MISC if they paid $600 or more to a non-employee during the tax year.
Filing Deadline	The deadline to file the 1099-MISC form with the IRS is typically January 31 of the year following the payment.
Recipient Copy	Recipients must receive their copy of the 1099-MISC by January 31 as well.
State Requirements	Some states have their own versions of the 1099-MISC, which may require separate filing.
Common Uses	Common uses include reporting payments to freelancers, rent payments, and legal settlements.
Penalties	Failure to file or provide a 1099-MISC can result in penalties, which vary based on how late the form is submitted.
Electronic Filing	Businesses can file the 1099-MISC electronically through the IRS e-file system.
Changes in 2020	Starting in 2020, the IRS introduced a new form, the 1099-NEC, specifically for reporting non-employee compensation.
Record Keeping	It’s important for businesses to keep accurate records of payments made, as they will need this information to complete the 1099-MISC.

Similar forms

The IRS 1099-NEC form is similar to the 1099-MISC in that both are used to report payments made to non-employees. The 1099-NEC specifically focuses on reporting non-employee compensation, such as payments to independent contractors or freelancers. This form was reintroduced in 2020 to separate non-employee compensation from other types of payments reported on the 1099-MISC, making it clearer for both the payers and the IRS. As a result, if you have paid someone for services rendered and the total exceeds $600 in a year, you would use the 1099-NEC instead of the 1099-MISC for those specific payments.

The IRS 1099-DIV form is another document that shares similarities with the 1099-MISC. While the 1099-MISC is used for reporting miscellaneous income, the 1099-DIV is specifically for reporting dividends and distributions received by shareholders. If you own stocks or mutual funds and receive dividends exceeding $10, the financial institution will issue a 1099-DIV. Both forms serve the purpose of informing the IRS about income that may not be reflected on a W-2, ensuring that all income is accurately reported for tax purposes.

The 1099-INT form is also comparable to the 1099-MISC, as it is used to report interest income. If you earn interest from a bank account, a loan, or other sources and the total interest exceeds $10, the institution will provide you with a 1099-INT. Similar to the 1099-MISC, this form helps the IRS track income that individuals may receive outside of traditional employment, ensuring that all earnings are reported and taxed appropriately.

Understanding various financial forms is essential for accurate income reporting. Among these, the Profit And Loss form plays a critical role by summarizing a company's revenues, costs, and expenses, providing a snapshot of financial performance. Moreover, for those needing guidance in managing legal aspects of financial documentation, resources like OnlineLawDocs.com can be invaluable in ensuring compliance and clarity.

Lastly, the IRS 1099-B form is related to the 1099-MISC in that it reports proceeds from broker and barter exchange transactions. If you sell stocks or other securities, the brokerage firm will issue a 1099-B to report the gains or losses from those transactions. Like the 1099-MISC, the 1099-B is essential for providing the IRS with a complete picture of your income sources. It helps ensure that taxpayers accurately report capital gains and losses when filing their tax returns, thereby fulfilling their tax obligations.