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Old 11-16-2011, 11:18 AM
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What are the amounts that should be reported on Form 1099-Misc?

The IRS has required employers to report the following payments on Form 1099-Misc as follows;
  1. Payments for rental property expenses.
  2. Payments to a physician, physicians' corporation, or other supplier of health and medical services. Issued mainly by medical assistance programs or health and accident insurance plans.
  3. Payments for services performed for a trade or business by people not treated as its employees. Examples: fees to subcontractors or directors and golden parachute payments
  4. Fish purchases paid in cash for resale.
  5. Crop insurance proceeds.
  6. Gross proceeds paid to attorneys. (Due to IRS February 15th)

There is a minimum threshold of $600 that needs to be made before employers are required to report these amounts on Form 1099-Misc.

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