Please see instructions for the form 1099MISC for reporting requirements
File Form 1099-MISC
, Miscellaneous Income, for each
person to whom you have paid during the year:
At least $10 in royalties (see the instructions for box 2) or
broker payments in lieu of dividends
(see the instructions for box 8);
At least $600 in:
1. rents (box 1);
2. services performed by someone who is not your
employee (including parts and materials), box 7;
3. prizes and awards (see instructions for boxes 3 and 7;
4. other income
payments (box 3);
and health care payments (box 6);
6. crop insurance proceeds (box 10);
7. cash payments for fish (or other aquatic life) you
purchase from anyone engaged in the trade or business of
catching fish (box 7);
8. generally, the cash paid from a notional principal
contract to an individual
, or estate (box 7);
9. Payments to an attorney. See Payments to attorneys,
10. Any fishing boat proceeds (box 5).
In addition, use Form 1099-MISC to report that you made
of at least $5,000 of consumer products to a
buyer for resale anywhere other than a permanent retail
establishment (box 9).
You must also file Form 1099-MISC for each person from
whom you have withheld any federal income
tax (report in
box 4) under the backup withholding rules
regardless of the
amount of the payment.
At the same time - see following -
Trade or business reporting only. Report on Form
1099-MISC only when payments are made in the course of
your trade or business. Personal payments are not
reportable. You are engaged in a trade or business if you
operate for gain or profit.
Let me know if you need any clarification this matter.