Yes, you are correct that you do not need to send Form 1099-MISC.
According to the IRS Instructions for Form
1099-MISC, "Payments made with a credit card or payment card and certain other types of payments, including third-party network transactions, must be reported on Form 1099-K by the payment settlement entity under section 6050W and are not subject to reporting on Form 1099-MISC. See the separate Instructions for Form 1099-K."
In short, PayPal will issue Form 1099-K to your contractor. So you do not need to send Form 1099-MISC.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
