Sign in
hamburger menu
Sign in
Tax Forms

Form 1099-MISC

The form for miscellaneous income
tl;drDifferent 1099 forms report different types of income. The 1099-MISC form is used for reporting miscellaneous income that you wouldn’t include on other 1099 forms. It no longer includes freelancer income, which you document with form 1099-NEC (non-employee compensation).

How is 1099-MISC different than a 1099?

There are multiple 1099 forms for reporting different types of income. The 1099-MISC form (MISC stands for “miscellaneous”) is intended to capture all income that is not covered in other 1099 forms.

Examples of income that you would include on a 1099-MISC form include awards, royalties (of at least $10), rent, payments to an attorney, health payments (at least $600 in miscellaneous expenses), and, believe it or not, fishing boat proceeds.

In 2020, the IRS updated the 1099-MISC form to exclude freelancer income. The IRS created a new form, 1099-NEC (non-employee compensation), which is where you’d report income as a freelancer, contractor, or someone who is not a full-time/W-2 employee.

© 2023 Catch
This website is operated by Catch Financial, Inc. ("Catch"); Catch Capital Management, LLC ("Catch Capital"); Catch Insurance, LLC ("Catch Insurance"); and Catch Crypto, LLC ("Catch Crypto"). See licenses.
Banking
Catch is a financial technology company and is not a bank. Banking services provided by Blue Ridge Bank N.A., Member FDIC. Debit Cards are issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.Investments
Advisory services provided by Catch Capital, an SEC-registered investment adviser. Brokerage, custody, and clearing services are offered by Folio Investments, Inc., a Goldman Sachs Company, registered broker-dealer and member FINRA/SIPC.Not FDIC Insured • No Bank Guarantee • May Lose Value. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives and the charges and expenses. For more details, see our Form ADV Part 2 and disclosures. Past performance does not guarantee future results; the likelihood of investment outcomes are hypothetical in nature.
Health Insurance
Attention: This website is operated by Catch Insurance and is not the Health Insurance Marketplace® website. In offering this website, Catch Insurance is required to comply with all applicable federal law, including the standards established under 45 CFR §§155.220(c) and (d) and standards established under 45 CFR §155.260 to protect the privacy and security of personally identifiable information. This website may not support enrollment in all Qualified Health Plans (QHPs) being offered in your state through the Health Insurance Marketplace® website. For enrollment support in all available QHP options in your state, go to the Health Insurance Marketplace® website at Healthcare.gov.Copyright
Apple®, the Apple logo®, and the App Store®, are trademarks of Apple, Inc.; Google Play and the Google Play logo are trademarks of Google, Inc.