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1099-MISC box 14
November 19, 2024
Q. Should I use 1099-MISC box 14 for payment for legal services?
A.
(Answered by IOFM's third-party tax experts)
The Form 1099-MISC was redesigned in 2020 – prior to this, attorney gross proceeds were reported in box 14. Under the current tax code regulations, if your organization makes a settlement payment in which the claimant’s attorney is a payee, issue a Form 1099-MISC to the attorney as recipient and report the amount of that payment in box 10, gross proceeds paid to an attorney. (If…
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