Form 1099-MISC, Miscellaneous Income - Document Skill

The Form 1099-MISC, Miscellaneous Income skill extracts data from Forms 1099-MISC, which are filed for each person to whom a payer has paid during the year:

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.

In addition, Forms 1099-MISC are used to report that a person has made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment. The Form 1099-MISC, Miscellaneous Income skill is a preview skill. It has been trained on a limited set of documents and is designed to help you quickly get started with processing Forms 1099-MISC. For production use, you may need to uptrain the skill with your own document samples. This skill recognizes handwritten text. The option is enabled by default. If you do not import handwritten forms, disable the Handwritten option in the skill settings.

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).

​Countries and Languages

​Extracted Fields

​Basic Form Information

​Payer Details

​Tax Identification Numbers

​Recipient Details

​Account Information

​Income Categories

​Deferred Compensation and Special Payments

​State Tax Information

​Key Fields

​Validation Rules