AmyC
Expert Alumni

Business & farm

Yes, you must file the 1099-MISC if you paid someone $600 or more. The IRS clearly states in Specific Instructions for Form 1099-MISC:

 

File Form 1099-MISC, Miscellaneous Income, for each person in the course of your business to whom you have paid the following during the year:

• At least $10 in royalties (see the instructions for box 2) or broker payments in lieu of dividends or tax-exempt interest (see the instructions for box 8).

• At least $600 in:

1. Rents (box 1);

2. Prizes and awards (box 3);

3. Other income payments (box 3);

4. Generally, the cash paid from a notional principal contract to an individual, partnership, or estate (box 3);

5. Any fishing boat proceeds (box 5);

6. Medical and health care payments (box 6);

7. Crop insurance proceeds (box 9);

8. Payments to an attorney (box 10) (see Payments to attorneys, later);

9. Section 409A deferrals (box 12); or

10. Nonqualified deferred compensation (box 14).

 

@Yat70

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