Issuing 1099-NECs
Required for payments to unincorporated contractors of $600+ during the year. Get the contractor's W-9 before paying; issue by January 31 of the following year.
Receiving 1099-NECs
Report on Schedule C (sole proprietor) or Schedule C of Form 1120-S (S-corp) or relevant partnership schedule. All income is reportable whether or not a 1099 was issued.
Have a specific situation?
Call the office and a human answers.
Common questions
- What if the contractor is an S-corp or corporation?
- No 1099-NEC required for payments to corporations (with narrow exceptions for legal and medical payments, which do require 1099-NEC regardless of entity).
Related
Personal Income Tax Preparation
Federal and state 1040 preparation with year-round planning. Serving individuals in Florida and all 50 states.
Monthly Bookkeeping
Monthly, quarterly, and annual bookkeeping with a detailed report and balance sheet. QuickBooks-ready files.
Filling Out a Form W-9
A W-9 gives a payer your taxpayer ID so they can issue a 1099. Common for contractors and freelancers.