The 1099-MISC is an official tax form used in the United States to report miscellaneous income paid to individuals who are not employees, including freelancers, independent contractors, and self-employed individuals. This form is used to report payments of $600 or more for rent, royalties, non-employee compensation, prizes and awards, and other types of income.
Historically, the 1099-MISC form was used to report payment sent to freelancers, but with the rise in freelancers throughout the country, the 1099-NEC form is now used specifically to report non-employee compensation paid to freelancers. The 1099-MISC form continues to be used to report other types of miscellaneous income paid to non-employees.
