If you accept credit card payments online, you may have to report payments that you receive from credit card or third-party processors on your 1099-K forms.
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Unemployment income reported on a 1099-G Business or 1099-NEC income (often reported by those who are self-employed, gig workers or freelancers) Stock sales (including crypto investments) Income from rental property or property sales Credits, deductions and income reported on other f...
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IRS Releases Draft 2021 Instructions for Forms 1099-MISC and 1099-NEC The IRS has releaseddraft 2021 instructionsfor Form 1099-MISC, Miscellaneous Information, and Form 1099-NEC, Nonemployee Compensation. Information contained in this publication should not be construed as legal advice or opinion or...
Form 1099-NEC Next, you will also need to fill out IRS Form 1099-NEC. This is a new change that was initiated in 2020. Previously, the1099-Miscwas used to report payments to independent contractors who cover their own employment taxes. Now, however, the IRS uses form1099-NEC, short for...
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