What is Form 1099-MISC?

When a company pays miscellaneous income to an individual, it must file Form 1099-MISC to the IRS and also issue a copy to the individual. This form provides information on a wide range of income types. U.S. taxpayers are required to report 1099-MISC income on their tax returns.

 


DISCLAIMER: This post is for informational purposes only and should not be interpreted or relied upon as a substitute for the advice of financial, legal, or tax professionals. This content also only addresses U.S. federal income tax consequences for U.S. citizens and residents and does not address tax consequences that may be relevant to a particular person subject to special rules, such as dealers or traders. You should consult with your own financial, legal, or tax professionals to report and file your crypto taxes or make decisions on your particular circumstances. The laws, regulations, or interpretation of the existing laws could change, which may adversely affect either prospectively or retroactively. The content of this post is subject to changes.