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Reporting backup withholding on a 1099

October 17, 2024

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Q. Does the 24% backup withholding get recorded anywhere on the 1099? If so, what box does it go in? A. (Answered by IOFM's third-party tax experts) Backup withholding is reported in Box 4 of Form 1099-MISC and Form 1099-NEC - see Instructions for Forms 1099-MISC and 1099-NEC. 110514

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