1099-MISC
Business & Finance abbreviation · Tax
| Stands for | Miscellaneous Information (IRS Form 1099-MISC) |
|---|---|
| Categories | Business & Finance |
1099-MISC stands for Miscellaneous Information (IRS Form 1099-MISC), a tax abbreviation.
Catch-all information return for payments a business makes in the course of its trade that are not wages or contractor fees, including rents, royalties, prizes and awards, medical payments, crop insurance proceeds and gross proceeds paid to attorneys.
Example: The radio station issued me a 1099-MISC for the car I won in its contest.
Usage notes
Royalties trigger reporting at just $10, while most other boxes use a higher threshold. Since 2020, contractor fees go on Form 1099-NEC instead, which caused confusion in the first years after the split. Recipients report the income on different schedules depending on its nature, such as Schedule E for rents or Schedule 1 for prizes.
Related abbreviations
More tax abbreviations
- 1099-B – Proceeds From Broker and Barter Exchange Transactions (IRS Form…
- 1099-DA – Digital Asset Proceeds From Broker Transactions (IRS Form 1099-DA)
- 1099-DIV – Dividends and Distributions (IRS Form 1099-DIV)
- 1099-G – Certain Government Payments (IRS Form 1099-G)
- 1099-INT – Interest Income (IRS Form 1099-INT)
- 1099-K – Payment Card and Third Party Network Transactions (IRS Form 1099-K)
- 1099-NEC – Nonemployee Compensation (IRS Form 1099-NEC)
- 1099-R – Distributions From Pensions, Annuities, Retirement or Profit-Sharing…
- 1120 – U.S. Corporation Income Tax Return (IRS Form 1120)
- 1120-S – U.S. Income Tax Return for an S Corporation (IRS Form 1120-S)
- 409A – Section 409A (nonqualified deferred compensation rules)
- 4868 – Application for Automatic Extension of Time To File U.S. Individual…