Hi experts,

I am a new employer, and I have one simple question about reporting 1099misc for one of my independent contractor.

Since the condition of Box 7 of 1099misc shows: "At lease $600 or more to report", so what if the amout of a fee paid is less than $600?? Does that mean I don't need to report/complete 1009misc for this indep. Contractor??

Thanks for the help,

Henry

Henry:

That is correct. If you paid your independent contractor $599 or less, you do not have to originate a Foprm 1099-MISC for him.

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Originally Posted by AtlantaTaxExpert

Henry:

That is correct. If you paid your independent contractor $599 or less, you do not have to originate a Foprm 1099-MISC for him.

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I guess to add to the question if you don' mind, they don't have to, but CAN they?? Since it says 600 or more, if it was 300, can they still issue one.

Fr Chuck:

You can issue a Form 1099-MISC for $1 if you want to. The IRS will just data-entry the information against the recipient's SSN. The reason for the $600 cutoff is to cut down on the volume.