The IRS vs the program. Here is how to win. Go to your Business Income. It says Forms 1099-MISC, 1099-K, gross receipts, sales. Click there to start or update. The next screen shows the 1099-NEC, 1099-MISC and the rest of the options. The cash is reported under general business income this year. So many changes.
The 1099-NEC is for each person to whom the taxpayer has paid at least $600 during the course of a business for the following.
•Services performed by someone who is not an employee, including parts and materials (box 1),
•Cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish (box 1), or
•Payments to an attorney for legal services (box 1).
The Form 1099-MISC is for each person to whom the taxpayer has paid the following during the course of a trade or business.
•At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest,
•At least $600 in rents (box 1), prizes and awards (box 3), other income payments (box 3), the cash paid from a notional principal contract to an individual, partnership, or estate (box 3), any fishing boat proceeds (box 5), medical and health care payments (box 6), crop insurance proceeds (box 9), payments to an attorney (box 10), IRC section 409A deferrals (box 12), or nonqualified deferred compensation (box 14).
•Any payment from which federal income tax has been withheld (box 4) under the backup withholding rules
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