I don't see an option to report NEC payments on the 2020 Form 1099-MISC, how do I report NEC payments?
1.2k views | Last modified 1/24/2023 7:14:50 AM EST

Applicable To
94X 1099 W-2 ACA W-4

For the 2020 tax year, the IRS introduced Form 1099-NEC with the sole purpose of reporting nonemployee compensation. This means going forward, non-employee compensation is no longer reported in Box 7 of Form 1099-MISC

From the tax year 2020 on, the IRS requires all nonemployee compensation to be reported on Form 1099-NEC only.

Was this helpful? Yes No


Sign Up for a
FREE TaxBandits Account!

Register Now

Returning User? Sign in

Couldn't find what you
are looking for?

Contact Us

(704) 684-4751 support@taxbandits.com