- At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest.
- At least $600 in:
- Rents.
- Prizes and awards.
- Other income payments.
- Medical and health care payments.
- Crop insurance proceeds.
- Cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish.
- Generally, the cash paid from a notional principal contract to an individual, partnership, or estate.
- Payments to an attorney.
- Any fishing boat proceeds.
Countries and Languages
| Countries | Languages |
|---|---|
| USA | English |
Extracted Fields
Basic Form Information
| Field | Description |
|---|---|
| Void | Indicates whether the form should be annulled. |
| Corrected | Indicates whether the form is being submitted to correct data provided earlier. |
| Year | The reporting fiscal year. |
Payer Details
| Field | Description |
|---|---|
| Name | The name, address, and phone number of the payer. |
| Street | The name, address, and phone number of the payer. |
| City | The name, address, and phone number of the payer. |
| State | The name, address, and phone number of the payer. |
| ZIP Code | The name, address, and phone number of the payer. |
| Country | The name, address, and phone number of the payer. |
| Phone | The name, address, and phone number of the payer. |
Tax Identification Numbers
| Field | Description |
|---|---|
| Payer’s TIN | The tax identification number assigned to the payer. |
| Recipient’s TIN | The tax identification number assigned to the recipient of the payer’s payments. |
Recipient Details
| Field | Description |
|---|---|
| Name | The name and address of the payment recipient. |
| Street | The name and address of the payment recipient. |
| City | The name and address of the payment recipient. |
| State | The name and address of the payment recipient. |
| ZIP Code | The name and address of the payment recipient. |
| Country | The name and address of the payment recipient. |
Account Information
| Field | Description |
|---|---|
| Account Number | The unique number used by the payer to identify the payment recipient. |
| FATCA Filing Requirement | Specifies that the Foreign Account Tax Compliance Act (FATCA) filing requirement is satisfied. |
| 2nd TIN Notice | Specifies that the IRS has notified the payer twice within three calendar years that the payee provided an incorrect Taxpayer Identification Number (TIN). |
Income Categories
| Field | Description |
|---|---|
| Rents | Amounts of $600 or more for all types of rents. |
| Royalties | Gross royalty payments (or similar amounts) of $10 or more. |
| Other Income | Other income of $600 or more required to be reported on Form 1099-MISC that is not reportable in any of the other boxes on the form. |
| Federal Income Tax Withheld | The total amount withheld as federal income tax. |
| Fishing Boat Proceeds | The individual’s share of all proceeds from the sale of a catch or the FMV of a distribution in kind to each crew member of fishing boats with normally fewer than 10 crew members. |
| Medical and Health Care Payments | Payments of $600 or more made in the course of person’s trade or business to each physician or other supplier or provider of medical or health care services. |
| Nonemployee Compensation | Nonemployee compensation. |
| Payer Made Direct Sales | Specifies that the payer has made direct sales totaling $5000 or more of consumer products to the recipient for resale. |
| Substitute Payments in lieu of Dividends or Interest | Aggregate payments of at least $10 of substitute payments received by a broker for a customer in lieu of dividends or tax-exempt interest as a result of a loan of a customer’s securities. |
| Crop Insurance Proceeds | Crop insurance proceeds of $600 or more paid to farmers by insurance companies (unless the farmer has informed the insurance company that expenses have been capitalized under section 278, 263A, or 447). |
| Gross Proceeds Paid to an Attorney | Gross proceeds of $600 or more paid to an attorney in connection with legal services. |
| Fish Purchased for Resale | The total cash payments of $600 or more paid during the year to any person who is engaged in the trade or business of catching fish. |
Deferred Compensation and Special Payments
| Field | Description |
|---|---|
| Section 409A Deferrals | The total amount deferred during the year of at least $600 for a nonemployee under all nonqualified plans. |
| Section 409A Income | Income as a nonemployee under an NQDC plan that does not meet the requirements of section 409A |
| Excess Golden Parachute Payments | Any excess golden parachute payments. |
| Nonqualified Deferred Compensation | All amounts deferred (including earnings on amounts deferred) that are includible in income under section 409A because the NQDC plan fails to satisfy the requirements of section 409A. |
State Tax Information
| Field | Description |
|---|---|
| State Tax Withheld 1 | State-specific payment information. |
| State Tax Withheld 2 | State-specific payment information. |
| State or Payer’s State Number 1 | State-specific payment information. |
| State or Payer’s State Number 2 | State-specific payment information. |
| State Income 1 | State-specific payment information. |
| State Income 2 | State-specific payment information. |
Key Fields
- Year
- Payer Details/Name
- Payer’s TIN
- Recipient’s TIN
- Recipient Details/Name
- Account Number
- Rents
- Royalties
- Other Income
- Federal Income Tax Withheld
Validation Rules
| Rule | Description |
|---|---|
| Complete Form Year | Checks the value in the Year field. It removes any white spaces and converts a 2-digit year into a 4-digit format. If the last two digits are numeric and start with 9, it converts the value to the 1900’s (for example, 99 converts to 1999). Otherwise, it assumes the date is from the 2000’s (for example, 24 converts to 2024). |