Form 1099-Misc

AAA

DEFINITION of 'Form 1099-Misc'

Form 1099-Misc is a tax form that reports the year-end summary of all non-employee compensation. The 1099-Misc form covers rent, royalties, self-employment and independent contractor income, crop insurance proceeds and several other kinds of miscellaneous income.

INVESTOPEDIA EXPLAINS 'Form 1099-Misc'

Any client or employer that pays a freelancer or independent contractor at least $600 during the year must issue a 1099-Misc to him or her by January 31 of the following year. Amounts paid for employee compensation such as wages will not be reported on Form 1099-Misc, but on Form W-2.

RELATED TERMS
  1. IRS Publication 552 - Recordkeeping ...

    A document published by the Internal Revenue Service (IRS) that ...
  2. Form 1099-R

    An Internal Revenue Service (IRS) form with which an individual ...
  3. Form 1099-B

    A form issued by a broker or barter exchange that summarizes ...
  4. Form 1099-DIV

    A form sent to investors by investment fund companies. The form ...
  5. Cash Bonus

    A lump sum of money awarded to an employee, either occasionally ...
  6. Golden Bungee

    A benefit conferred to select top executives that is a combination ...
Related Articles
  1. Credit & Loans

    Are credit card rewards considered taxable income by the IRS?

    Learn about when the Internal Revenue Service considers the financial value of gifts received from credit card reward programs to be taxable income.
  2. Taxes

    Using Tax Lots: A Way To Minimize Taxes

    The method of identifying cost basis can help you to get the most out of reduced tax rates.
  3. Taxes

    Unexpected 1099-R Form: What To Do

    Did your IRA custodian report distributions you thought were non-reportable? Find out what went wrong.
  4. Taxes

    It's December - Do You Know Where Your IRA Statements Are?

    Don't discard these important documents with your junk mail - they may affect your taxes.
  5. Professionals

    How do fringe benefits help increase employee retention?

    Offering fringe benefits can be a valuable retention tool for employers wanting to maintain a high-quality, highly productive staff.
  6. Retirement

    Are part-time employees eligible for fringe benefits?

    Learn how offering fringe benefits allows employers to entice new talent to join their teams, although part-time workers do not often get these benefits.
  7. Personal Finance

    Do minimum wage laws make labor a fixed or variable cost?

    Find out why labor is a classified as a semi-variable cost by the minimum wage laws; labor has elements of both fixed costs and variable costs.
  8. Professionals

    What are some examples of common fringe benefits?

    Learn how offering fringe benefits can be a strategic recruitment and retention tool for employers and drastically increase total compensation for employees.
  9. Professionals

    How are an employee's fringe benefits taxed?

    Discover how receiving fringe benefits can increase total compensation for employees and how it is important to understand how these benefits are taxed.
  10. Professionals

    What incentives does an employer have in offering fringe benefits?

    Learn how offering fringe benefits is a powerful business tool for employers to attract and retain quality employees while also keeping overhead low.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center