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Old 02-08-2016, 01:56 PM
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Am I Required Who is required to File a Form 1099 or Other Information Return?

Per the IRS, "If you made or received a payment during the calendar year as a small business or self-employed (individual), you are most likely required to file an information return to the IRS. This page is applicable to specific and limited reporting requirements. For more detailed information, please see General Instructions for Certain Information Returns or specific form instructions.

Do not file Copy A of information returns downloaded from the IRS website. The official printed version of the IRS form is scannable, but the online version of it, printed from the website, is not. A penalty may be imposed for filing forms that cannot be scanned.

If, as part of your trade or business, you made any of the following types of payments, use the link to be directed to information on filing the appropriate information return.

Payments, in the course of your trade or business: (1099-MISC)
  1. Services performed by independent contractors or others (not employees of your business) (Box 7)
  2. Prizes and awards and certain other payments (see Instructions for Form 1099-MISC, Box 3. Other Income, for more information)
  3. Rent (Box 1)
  4. Royalties (Box 2)
  5. Backup withholding or federal income tax withheld (Box 4)
  6. Crewmembers of your fishing boat (Box 5)
  7. To physicians, physicians? corporation or other supplier of health and medical services
  8. For a purchase of fish from anyone engaged in the trade or business of catching fish (Box 7)
  9. Substitute dividends or tax exempt interest payments and you are a broker (Box 8)
  10. Crop insurance proceeds (Box 10)
  11. Gross proceeds of $600 or more paid to an attorney (generally, Box 7, but see instructions as Box 14 may apply)
  12. Interest on a business debt to someone (excluding interest on an obligation issued by an individual) (1099-INT)
  13. Dividends or other distributions to a company shareholder (1099-DIV)
  14. Distribution from a retirement or profit plan or from an IRA or insurance contract (1099-R)
  15. Payments to merchants or other entities in settlement of reportable payment transactions, that is, any payment card or third party network transaction (1099-K)

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Old 03-30-2016, 03:22 AM
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1099-Misc

Hello,

I'm a bit uncertain on this point: If someone pays a family member to house & pet sit while they go out of town to earn income as an independent contractor, are they then required to file a 1099-Misc (and the recipient files as SE)? Also, this was a casual arrangement, mostly in cash. So am I correct in assuming that they can only deduct those payments for which they have a check copy or some written accounting of those payments (thus the 1099-misc filing would be less than what is deducted on Sched. C)? Thanks!



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Old 03-30-2016, 03:33 AM
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1099-Misc for summer house/pet sitter?

Hello,

I'm a bit uncertain on this point: If someone pays a family member to house & pet sit while they go out of town to earn income as an independent contractor, are they then required to file a 1099-Misc (and the recipient files as SE)? Also, this was a casual arrangement, mostly in cash. So am I correct in assuming that they can only deduct those payments for which they have a check copy or some written accounting of those payments (thus the 1099-misc filing would be less than what is deducted on Sched. C)? Thanks!



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