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Why did I get a 1099-MISC?

Learn about the many reasons you may have received a Form 1099-Misc.

Go to this section in Credit Karma Tax: Form 1099-Misc

You could receive a 1099-Misc for several reasons:

  • Are you self-employed?
  • Do you receive income from rental real estate property, equipment rentals or other property rentals?
  • Do you receive royalty income for the use of your intangible property such as patents, copyrights, trademarks and tradenames?
  • Did you win a large prize or sweepstakes?
  • Did you do repair work for someone? Did a business hire you to do a one-off job? Are you an owner-operator truck driver? Do you work for a company on your own time, when you want to?

If you answered “YES” to any of the above questions, then there’s a chance you may receive a 1099-Misc.

Property managers and others who participate in rental real estate, machine rental or other property rental activities may receive a Form 1099-Misc to report the rental income received. Rental income is reported in Box 1 of your Form 1099-Misc and should be reported on either Schedule E or Schedule C.

Royalty payments for use of intangible property such as patents, copyrights, trademarks and tradenames are reported in Box 2 of your Form 1099-Misc and should be reported on Schedule E.

If you win a large prize or sweepstakes, the monetary value of the award may be reported to you as Other Income in Box 3 of your Form 1099-Misc and the winnings should be reported on your Form 1040.

Generally, income received in the course of your trade or business from individuals or organizations for whom you are not employed, is reported on Form 1099-Misc.
Source: irs.gov

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