600563
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

la5sf0
New Member

As an independent contractor, is there a minimum income requirement before filing a 1099 misc?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PeterM
New Member

As an independent contractor, is there a minimum income requirement before filing a 1099 misc?

No, there's no limit. You report all the income you earned as a self-employed individual.

There is a certain amount you have to make before you are issued (or issue) a 1099-MISC form however. You must have made at least $600 or more before any 1099-MISC form is issued to you. This is also true if you have to issue a 1099-MISC to somebody. You won't issue a form 1099-MISC unless you've paid the individual (or business) $600 or more.

Form 1099-MISC, Miscellaneous Income (per IRS regulations)

File this form for each person to whom you have paid during the year:

  • at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest;
  • at least $600 in:
    • rents;
    • services performed by someone who is not your employee;
    • prizes and awards;
    • other income payments;
    • medical and health care payments;
    • crop insurance proceeds;
    • cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish;
    • generally, the cash paid from a notional principal contract to an individual, partnership, or estate;
    • payments to an attorney; or
    • any fishing boat proceeds,

In addition, use this form to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.



Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question