Latest Newsletter


2016 Form 1099-MISC Miscellaneous Income

What’s New

New filing date. Public Law 114-113, Division Q, section 201, requires Form 1099-MISC to be filed on or before January 31, 2017, when you are reporting nonemployee compensation payments in box 7.

Otherwise, file by February 28, 2017, if you file on paper, or by March 31, 2017, if you file electronically. The due dates for furnishing payee statements remain the same.

For the latest information about developments related to Form 1099-MISC and its instructions, such as legislation enacted after they were published, go to form1099misc.

File Form 1099-MISC, Miscellaneous Income, for each person to whom you have paid during the year: At least $10 in royalties (see the instructions for box 2) or broker payments in lieu of dividends or tax-exempt interest (see the instructions for box 8); At least $600 in: 1. rents (box 1); 2. services performed by someone who is not your employee (including parts and materials), box 7; 3. prizes and awards (see instructions for boxes 3 and 7); 4. other income payments (box 3); 5. medical and health care payments (box 6); 6. crop insurance proceeds (box 10); 7. cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish (box 7); 8. generally, the cash paid from a notional principal contract to an individual, partnership, or estate (box 3); 9. Payments to an attorney. See Payments to attorneys, later; or 10. Any fishing boat proceeds (box 5). In addition, use Form 1099-MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment (box 9). You must also file Form 1099-MISC for each person from whom you have withheld any federal income tax (report in box 4) under the backup withholding rules regardless of the amount of the payment.

Trade or business reporting only. Report on Form 1099-MISC only when payments are made in the course of your trade or business. Personal payments are not reportable. You are engaged in a trade or business if you operate for gain or profit. However, nonprofit organizations are considered to be engaged in a trade or business and are subject to these reporting requirements. Other organizations subject to these reporting requirements include trusts of qualified pension or profit-sharing plans of employers, certain organizations exempt from tax under section 501(c) or (d), farmers’ cooperatives that are exempt from tax under section 521, and widely held fixed investment trusts. Payments by federal, state, or local government agencies are also reportable.