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Form 1099 Lx

Form 1099 Lx

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Quick guide on how to complete form 1099 lx

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Video instructions and help with filling out and completing Form 1099 Lx

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Instructions and help about Form 1099 Lx

okay for this video i want to cover how to complete the irs form 1099 nec so the nec form uh was recently implemented a few years ago it's kind of a supplement to the 1099 miscellaneous and it's used to report non-employee compensation paid to recipients by a company or a person in the ordinary course of their trade or business so we have the nec in front of us and i have just one slide with some background info and a fact pattern that we're going to go through and then we'll jump back to the 1099 nec right so then you see again it's filed by all u.s businesses that make payments to contractors in the ordinary course of their trade or business personal payments are not reportable so i have two examples here just to highlight this distinction and why personal payments are not reportable by you as the payor so we have john he's the owner of a marketing company and he owns a building one of the employee bathrooms has a leak so he hires a plu

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