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Combined threshold for Forms 1099-NEC and 1099-MISC?
November 10, 2021
Q. Does the $600 reporting threshold apply to 1099-NEC and 1099-MISC independently? In other words, if you have a vendor that has reporting for both forms, you wouldn't add up the amounts reportable on both forms to come up with the $600 threshold?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
The current IRS Instructions for…
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