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Form 1099 MISC Rev April

Form 1099 MISC Rev April

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hi everyone this is Aki with another video under the 15 most common tax forms um so let's go to our form 7 which is form 1099 miscellaneous income so many people received this form in the past when they were independent contractor or um gig worker um but two years ago the IRS actually started issuing a new form for non-employee compensation that's the the um 1099 NEC because it was there was a lot of confusion with some of the items that are listed on miscellanous income and Reporting and so now they just separate completely so let's just uh let me show you the 1099 miscellaneous now it has the non-employee compensation box one in the past it was actually listed in backx seven on 1099 miscellaneous but that's not no longer the case for the past 2 years so for 2021 and 2020 that form it has been redesigned now you are have to be issued this form if you've been if you have received $10 in royalties or $600 in rents prices other income you might rec

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