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Level 1
posted Jun 6, 2019 12:41:29 AM

On schedule c ...required to file 1099 must be entered yes or no ? Not sure if I'm required ?

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1 Best answer
Expert Alumni
Jun 6, 2019 12:41:32 AM

You are required to complete a 1099-MISC reporting form for an independent worker or unincorporated business if you paid that independent worker or business $600 or more.  You add up all payments made to a payee during the year, and if the amount is $600 or more for the year, you must issue a 1099 for that payee.

If the amount you paid the worker totals less than $600 for the tax year, then you are not required to issue a 1099 form.

2 Replies
Level 15
Jun 6, 2019 12:41:30 AM

You need to give a 1099Misc to anyone you paid $600 or more to for the year. But not to corporations or for merchandise. You send the IRS a copy of the 1099Misc with the transmittal summary form 1096. These are due to the person and to the IRS by Jan 31

Expert Alumni
Jun 6, 2019 12:41:32 AM

You are required to complete a 1099-MISC reporting form for an independent worker or unincorporated business if you paid that independent worker or business $600 or more.  You add up all payments made to a payee during the year, and if the amount is $600 or more for the year, you must issue a 1099 for that payee.

If the amount you paid the worker totals less than $600 for the tax year, then you are not required to issue a 1099 form.