Do you include nonemployee compensation on form 1099-nec?

The IRS has brought back Form 1099-NEC to separate nonemployee expenses and clear up the confusion. Prior to 2020, you would include nonemployee compensation in Box 7 on Form 1099-MISC.

When was the last time you used form 1099-nec?

Form 1099-NEC is not a replacement for Form 1099-MISC. Form 1099-NEC is only replacing the use of Form 1099-MISC for reporting independent contractor payments. And, the 1099-NEC is actually not a new form. It was last used in 1982.

Where to get form 1099-nec for 2020?

• The 2020 Instructions for Forms 1099-MISC and 1099-NEC. To order these instructions and additional forms, go to www.irs.gov/Form1099NEC.

What is the balance small business form 1099-nec?

Jean Murray, MBA, Ph.D., is an experienced business writer and teacher. She has taught at business and professional schools for over 35 years and written for The Balance SMB on U.S. business law and taxes since 2008. Form 1099-NEC is used to report any nonemployee compensation.