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when must a form 1099 miscellaneous be issued a anytime a business pays an individual for...

when must a form 1099 miscellaneous be issued a anytime a business pays an individual for service b if the contractor bills the business $4,000 or more see it's a contractor builds a business $600 or more when it business face and individual $400 and more which one is correct

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Form 1099 Miscellaneous is given to non-employees (Like independent contractors&other entities) paid by company. One must give a 1099-MISC form to any individual/business, when business paid $600 or more in a tax year. Cases when Form 1099 is issued: In addition to non-employees who do work for your company, 1099-MISC forms must be given for payments of $600 or more for services. The list includes Rents Services performed by someone who is not your employee Prizes and awards Other income payments Medical and health care payments Crop insurance proceeds Cash payments for fish or other aquatic life Cash paid from a notional principal contract to an individual, partnership, or estate Payments to an attorney Any fishing boat proceeds

From the above, correct answer is it's a contractor builds a business $600 or more when it business face.

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