Miscellaneous Income from 1099 Misc.
Trade or business reporting only.
Report on Form 1099-MISC only when payments are made in the course of your trade or business. Personal payments are not reported on Form 1099-MISC.
File Form 1099-MISC for each person to whom you have paid during the year:
1. at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest;
2. at least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate;
3. any fishing boat proceeds, or
4. gross proceeds of $600, or more paid to an attorney during the year.
Also, use Form 1099-MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.