Who needs to fill in a 1099-MISC self-employed tax form?


Quick Answer

Anyone who has paid another individual $10 or more in royalties or broker payments or $600 or more in the form of rent, services, prizes or miscellaneous income must file an IRS Form 1099-MISC, according to the IRS.

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Full Answer

The most common use of a 1099-MISC form is to report income paid to independent contractors. Employers typically use a 1099-MISC form because they have not paid official wages to an employee via a payroll system, and thus have not withheld that employee's earnings to pay taxes. Forms must be provided to the recipient of eligible income by January 31 and to the IRS by the end of February each year, says TurboTax.

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