Made a Payment

If, as part of your trade or business, you made any of the following types of payments, you are required to file the appropriate information return.

• For each person to whom you have paid at least $600 for the following during the year (Form 1099-NEC):
• Services performed by someone who is not your employee (including parts and materials)
• Cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish
• Payments to attorneys (including law firms or other providers of legal services)

For each person to whom you have paid the following during the year (Form 1099-MISC):

• Rents (Box 1)
• Royalties (Box 2)
• Other income (Box 3), including prizes and awards
• Federal income tax withheld (Box 4), including backup withholding
• Fishing boat proceeds (Box 5)
• Medical and health care services (Box 6)
• Substitute payments in lieu of dividends or interest (Box 8)
• Crop insurance proceeds (Box 9)
• Gross proceeds paid to an attorney, for example in a settlement agreement (Box 10, but payments to attorneys for services are reported on Form 1099-NEC)
• Fish purchased for resale (Box 11)
• Section 409A deferrals (Box 12)
• Excess golden parachute payments (Box 13)
• Nonqualified deferred compensation (Box 14)

Note: It is important that you place the payment in the proper box on the form.

• Interest on a business debt to someone (excluding interest on an obligation issued by an individual) (Form 1099-INT)
• Dividends or other distributions to a company shareholder (Form 1099-DIV)
• Distribution from a retirement or profit plan or from an IRA or insurance contract (Form 1099-R)
• Payments to merchants or other entities in settlement of reportable payment transactions, that is, any payment card or third party network transaction (Form 1099-K)

Received a Payment and Other Reporting Situations

• If, as part of your trade or business, you received any of the following types of payments, you are required to file the appropriate information return.
• Payment of mortgage interest (including points) or reimbursements of overpaid interest from individuals (Form 1098)
• Sale or exchange of real estate, for example the person responsible for closing the transaction (Form 1099-S)
• You are a broker and you sold a covered security belonging to your customer (Form 1099-B)
• You are an issuer of a security taking a specified corporate action that affects the cost basis of the securities held by others (Form 8937)
• You released someone from paying a debt secured by property or someone abandoned property that was subject to the debt (Form 1099-A) or otherwise forgave their debt to you (Form 1099-C)
• You made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment (Form 1099-MISC)

Additional Information:

• If you are a recipient or payee of an incorrect Form 1099-MISC contact the payor. If you cannot get this form corrected, attach an explanation to your tax return and report your income correctly.
• If you are a recipient or payee expecting a Form 1099-MISC and have not received one, contact the payor.

Not Required to File Information Returns

You are not required to file information return(s) if any of the following situations apply:

OR

• You are engaged in a trade or business and
• the payment was made to another business that is incorporated, but was not for medical or legal services or
• the sum of all payments made to the person or unincorporated business is less than $600 in one tax year