1099-MISC or 1099-NEC

[Txpyr]

I have paid compensation work performed by LLC (NON-corporation) construction contractors in 2022. Which form must I file: 1099 Misc, or 1099 NEC, or do I need to file anything?

[Opus 17]

You are a business, and people worked for you?  Or are you a subcontractor asking how to file a tax return?

[Txpyr]

We are a business, owning rental real estate. Contractors performed construction on our real estate.

[Opus 17]

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@Txpyr wrote:

We are a business, owning rental real estate. Contractors performed construction on our real estate.

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If you pay more than $600 in a year for services performed for your business, you must issue a 1099-NEC in most cases.  Start by issuing each vendor a W-9 form to report their tax number.  (You shouldn't agree to pay anyone until you get the form so you don't have problems later.)

https://www.irs.gov/pub/irs-pdf/fw9.pdf

If the company indicates they are an S- or C-corporation, you don't issue a 1099-NEC.  You do if they indicate they are a sole proprietor, single member LLC, partnership, or other LLC that is not designated as an S or C corp. 

[Txpyr]

Thank you so much!

In both cases they are Single Member/ LLCs. HOWEVER, one of the contractors provided a SSN (not an EIN) and their business name and turbotax Quick Employer Forms will only allow me to input an individual name (not a business name) when I select SSN.

How should I proceed? Should I put their business name in the First and/or Last Name box??

[Opus 17]

@VolvoGirl do you have a suggestion?

[AbrahamT]

In that case, you would put their first and last name along with their ss#, not the business name.