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Get your taxes done using TurboTax
@greatcareplus If you paid your Employee more than $600 in 2020, you should issue an 1099-NEC or a W-2.
Beginning with the 2020 tax year, the IRS will require business taxpayers to report nonemployee compensation on the new Form 1099-NEC instead of on Form 1099-MISC.
Businesses will need to use this form if they made payments totaling $600 or more to a nonemployee, such as an independent contractor.
This link gives detailed info Form 1099-NEC.
Click this link for instructions on How to Create W-2s or 1099s for Employees or Contractors.
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‎January 22, 2021
11:49 AM