![]() ![]() Line 7: Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale - here you don’t have to enter the dollar amount of the sale. Line 6: Medical and health care payments - all the payments above $600 made to any health care providers, private physicians, medication suppliers, or service providers belong here. Normally, there are 10 or fewer crew members on the fishing boats that are reportable in this form. Line 5: Fishing boat proceeds - here you should enter the actual amount of all proceeds from the catch sale or the fair market value (FMV) or the portions that belong to each member of the crew. Line 4: Federal income tax withheld - enter the exact withheld amount or leave blank if there’s no applicable amount. Line 3: Other income - if there is a reportable income (that is equal to or exceeds $600) that you paid to the entity, but you can’t include it in any of the lines, enter it here. Line 2: Royalties - enter all the gross royalty payments made during the year if they are equal to or exceed $10. Line 1: Rents - here you should report the payments made for any types of rents if they exceed $600 (each of them, not the total amount of rent). Use a correct box for the type of payment you made: Step 3: Fill out an appropriate payment line If you are an individual, use your Social Security Number (SSN). If you are a business, use your Employer Identification Number (EIN). Provide the payer’s and recipient’s information, including the names, full addresses, TINs, the recipient’s account number, etc.Įnter the correct tax identification number. Once you opened the form in PDFLiner editor specify a current year and proceed to the left part of the form which requires some personal details. The receiver pays the full amount, which is usually a 15.3% rate. In the case of 1099, the payer doesn't pay any taxes, because this is not an employer payment. In case the services provided for you have come to $600 or more from a single entity, then you need to handle the form and send a copy of it to the service provider. If your business or organization make payments to an individual or entity in the course of their trade or business, you might need to file the form.
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