how2ap01.htm
What 1099-type Do I Use at the End of the Year?
The IRS provides the following information:
Type Description 1099-MISC Compensation for services totaling over $600 paid to an individual, sole proprietor, partnership or LLC must be reported. Report payments to independent contractors, cleaning services, consultants, etc. 1099-MISC Rents paid to an individual, sole proprietor, partnership or LLC totaling over $600 1099-MISC All fees paid to law firms for legal services 1099-MISC Royalties totaling $600 or more paid to an individual 1099-INT Interest exceeding $10 paid to an individual 1099-DIV Dividends exceeding $10 paid to an individual 1099-R Distributions from qualified retirement plans