Article: 50069

What is Form 1099-MISC?

File Form 1099-MISC if you have received:

• At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest.
• At least $600 in:
  • Rents.
  • 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.
  • Any fishing boat proceeds.

In addition, use Form 1099-MISC to report that you made direct purchase of at least $5,000 of consumer products from a seller for resale anywhere other than a permanent retail establishment.

How to Report 1099-MISC

To enter information for Form 1099-MISC,

1. Go to Federal Taxes
2. Click Review.
3. Click I’d like to see the forms I’ve filled out or search for a form.
4. Enter MISC in the search box and add 1099-MISC – Miscellaneous Income.
5. Enter your information and click Save.