Form 1099-MISC is the IRS document used to report miscellaneous income —payments made in the course of a trade or business that are not direct employee wages or nonemployee compensation. Key Reporting Requirements You must generally issue a 1099-MISC for each person to whom you have paid at least: $10 in royalties or broker payments in lieu of dividends or tax-exempt interest. $600 in rents, prizes and awards, other income payments, medical and health care payments, or payments to an attorney. Common 1099-MISC Boxes to Review Payment Type Description Box 1 Rents Real estate rentals for office space or machine rentals. Box 2 Royalties Payments from oil, gas, or other mineral properties and patents/copyrights. Box 3 Other Income Prizes, awards, and payments that are not reported elsewhere. Box 4 Federal Tax Withheld Any backup withholding from the recipient's payments. Box 10 Attorney Payments Gross proceeds paid to an attorney, such as for a legal settlement. Important Review Checklist About Form 1099-MISC, Miscellaneous Information - IRS
1099-MISC Form Box 1: Nonemployee Compensation
Box 1: $10,000.00
Box 2: Federal Income Tax Withheld
Box 2: $0.00
Box 3: State Tax Withheld
Box 3: $0.00
Box 4: Federal Unemployment Tax
Box 4: $0.00
Box 5: State/Payer's State No.
Box 5:
Box 6: State/Payer's State No.